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Benzinga
Benzinga
Business
Nabaparna Bhattacharya

AerCap Secures $107 Million Insurance Payout For Five Russia-Stranded Jets

Aer AerCap Insurance Russia United States Ukraine Jefferies SMBC
AerCap Holdings

AerCap Holdings (NYSE:AER) shares traded slightly lower on Friday after the aircraft lessor disclosed fresh insurance recoveries tied to jets stranded in Russia and not returned following the 2022 invasion of Ukraine.

The company said it received approximately EUR91 million ($106.95 million) in cash from Russia-based insurer NSK related to five aircraft previously leased to Nordwind, and that, upon receipt, it released related claims against NSK, Nordwind and certain reinsurers—all approved by the U.S. Department of Commerce and the U.S. Treasury.

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