Sign in
Aircraft lessor Dubai Aerospace Enterprise (DAE) received some USD 201 mn in settlements over the last three months from ins. companies over some of its aircraft that were retained in Russia following its invasion of Ukraine, according to a press release.
What’s the beef? DAE and its affiliates had previously issued claims against a number of ins. and reins. companies, including French ins. provider Axa, against which it had issued USD 737.8 mn in claims for aircraft and equipment on lease in Russia. It reportedly reached a full settlement with Axa over some of its claimed jets in October.
This brings the total value of DAE’s reclaimed settlements to USD 319 mn — including previous settlements agreed in 2023 for seven aircraft.
What’s next? The Dubai-based lessor said it will continue to actively pursue its legal proceedings in British courts, where many trials have taken place between ins. providers and aircraft lessors over aircraft left in Russia, including a mega trial back in October.
