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Lessor AerCap books $2.7 billion charge on stranded Russian jets -Breaking

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© Reuters. FILE PHOTO – The AerCap logo can be seen in front of the Russian flag and an aircraft model in this illustration, taken May 4, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) –AerCap Holdings NV announced Tuesday that it had booked a $2.7 billion pretax charge in the first quarter. More than 100 of the top plane lessors in the world remain stranded at Russia.

It made the announcement less than 2 months after filing a $3.5 million insurance claim regarding its Russian jets left in Russia as a result of its invasion.

Many other lessors, with many jets still stuck in Russia, are also preparing for insurance claims. They have kept confidential contact with certain customers since Moscow prevented the jets leaving.

Aengus Kelly, AerCap chief executive officer stated that the company has filed insurance claims to cover these assets. He also said that they will aggressively seek all possible remedies to help recover their losses.

According to the Dublin-based lessor, this charge included impairments and flight equipment write offs.

AerCap said it removed 22 aircraft and three engines outside of Russia. AerCap noted, however that Russia still has 113 engines and aircraft.

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