Wave of insurance claims due from aircraft leasing firms as Russia seizes jets

"It is unclear at this stage whether insurers will have to pay all these claims," Moody’s said.

Dublin-based AerCap Holdings, the world’s biggest leasing firm, had 142 aircraft placed with Russia as of March 10, according to consulting firm IBA. File Picture.

Russia’s move to transfer almost 800 foreign-owned jets to its own aircraft register, amid foreign sanctions, has triggered a wave of insurance claims from leasing firms whose fleets have effectively been commandeered.

Lessors are expected to assert that registering the planes in Russia when they are already on the books in other territories amounts to a qualifying event for claims, including under their war-risk policies.