Avolon confirms ten planes remain in Russia

The aircraft leasing sector will be reluctant to re-enter the Russian market even after the conflict has ended.

Aircraft leasing firm Avolon said it has ten planes grounded in Russia after terminating the leases following the imposition of sanctions.

In an update, the Dublin firm said they had 14 narrowbody aircraft that they owned and two that they managed on lease to Russian customers. The leasing of these aircraft to those Russian has been terminated in line with EU sanction requirements following the invasion of Ukraine.