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Russia: agreement on aircraft leasing

Moscow will shell out more than 2.5 billion dollars to buy more than 100 airplanes

The Russia government has entered into agreements with foreign aircraft leasing companies to take possession of planes leased by Russian air carriers. In detail, the Moscow state insurance company NSK will shell out over 2.5 billion dollars to buy over 100 aircraft which it will then transfer to Russian airlines. A breath of fresh air for company finances. 

There are currently around 400 aircraft rented by Russian companies, blocked in the country after Moscow's military invasion of Ukraine in February 2022. The Kremlin has announced that it has so far allocated 3.31 billion dollars to purchase the planes through NLK-Finance (NSK Group). In this way, Moscow is trying to resolve the stalemate with foreign lessors and insurers.

Foreign aircraft rental companies have in fact sued dozens of insurers to recover losses amounting to at least 8 billion dollars due to planes operated by Russian airlines, whose companies cannot pay rent due to economic sanctions imposed by the West because of the war in Ukraine. The impact of the NSK deal is unclear. Developments will be seen between June and October, when the trial hearings will be held.

On the same topic, see also the article published by AVIONEWS.

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AVIONEWS - World Aeronautical Press Agency