Air Lease Corporation (ALC) and several of its subsidiaries have successfully negotiated settlement agreements with a number of insurers, resulting in a substantial cash inflow of $328.5 million. These settlements are a significant part of ALC’s efforts to recuperate losses stemming from its $791.0 million write-off related to its aircraft interests that were detained in Russia.
AerCap Holdings, an aircraft leasing company based in Ireland, has entered into a settlement agreement with one of its insurers. Under the terms of the settlement, AerCap expects to receive a payout of less than half of the originally anticipated $250 million, amounting to below $125 million. This agreement also entails adjustments to AerCap’s insurance coverage limits, with aircraft and hull…
Genesis, an Ireland-based aircraft lessor, has announced the promotion of Denise Byrne from her role as VP of Pricing to Senior Vice President (SVP) of Portfolio Services. This new department will consolidate Genesis’s pricing and risk management activities under a single umbrella, enhancing the company’s focus on effective asset management and strategic financial oversight. Byrne’s…
