CDB Aviation, a prominent global aircraft leasing company based in Ireland, has successfully reached agreements with two of its insurers, Fidelis Insurance (Bermuda) and Ping An Insurance (China), regarding the resolution of claims related to aircraft detained in Russia. Additionally, discussions with another insurer, Chubb (Switzerland), are reported to be in an advanced stage.
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.
The Russian government is reportedly considering a transfer of GTLK (State Transport Leasing Company) to VEB.RF, the national development corporation. Currently, GTLK is jointly owned by the country’s Ministry of Transport and Ministry of Finance.
By the end of 2024, Russia had removed 345 aircraft from the registers of foreign states, marking a significant step in transitioning aircraft ownership to domestic oversight. Additionally, 216 aircraft were acquired for Russian airlines, ensuring continued fleet expansion and operational stability despite international leasing restrictions.
Aeroflot Technics (Russia) has announced plans to broaden its maintenance and repair competencies, focusing on engine overhauls for A320, B737, and B777 aircraft. The company aims to complete the development of these new MRO capabilities by April 2025.
United Aircraft (Russia) has announced plans to issue more than 2 trillion shares, aiming to raise approximately $5.5 billion in capital. This move is intended to strengthen the company’s financial position and support ongoing aircraft development and production programs.
Russian airlines have significantly reduced their exposure to foreign risks by ending the practice of double registration for 360 aircraft in their fleets. This strategic move addresses regulatory and operational uncertainties tied to the dual registration of aircraft, particularly those registered in foreign jurisdictions.
Tulpar Air (Russia) has announced its intention to file for bankruptcy in the Arbitration Court of Tatarstan within the next 15 days, following a legal ruling. The court’s decision requires the airline to pay over US$5.0 million to its former co-owner, Azat Khakim.
The European Union Aviation Safety Agency (EASA) has issued a warning to airlines, advising them to avoid flying over certain Russian cities. This advisory comes in the wake of a fatal incident involving an AZAL Azerbaijan Airlines E190, which was reportedly shot down by Russian forces.
Royal Flight (Russia) has announced the transfer of its final Boeing 757-200 to AZUR air (Russia). This marks the completion of Royal Flight’s aircraft fleet transition, as the airline’s plans to resume operations remain uncertain.
