Russia bans some foreign flights to prevent aircraft seizure by Irish firms

Dublin based AerCap, the world’s biggest leasing firm, has 152 planes in Russia

AerCap said on February 28 that it would stop trading with Russian airlines and try to retrieve its planes; the Dublin-based lessor’s Russian customers include Aeroflot, S7 Airlines, Rossiya and Ural Airlines.

Irish-based aircraft leasing firms could see negative rating implications over the ban on conducting business with Russia following the invasion of Ukraine.

In an update, rating agency Fitch said aircraft lessors' requirement to terminate existing lease agreements with Russian airlines should not materially pressure their net margins, liquidity coverage levels, or cash flows over the next 12 to 24 months.