John Whelan: Irish-based leasing firms reach deals over planes stranded in Russia 

The settlements provide insight into the way the Russian airline industry is able to overcome Ukraine war economic sanctions

Aeroflot planes grounded in the wake of Russia's invasion of Ukraine. Irish-based AerCap has settled its claim over Russia's refusal to return 17 jets, just weeks after SMBC Aviation Capital similarly reached a $710m settlement. Picture: Andrey Rudakov/Bloomberg

Aeroflot, which is majority owned by the Russian state, has been reaching settlements with some Irish-based aircraft leasing firms, who had provided a large number of Boeing and Airbus planes before the invasion of Ukraine last year.

In September, AerCap said it had received $645m (€590m) from insurance company NSK in full settlement of insurance claims for 17 aircraft and five spare engines leased to Aeroflot and its subsidiary Rossiya, Reuters reported.