Irish aircraft leasing giant AerCap says return to Russian market 'a very long putt'

World's largest owner of aircraft and engines reported 2024 net income of $2.34bn

Aengus Kelly said any business with Russia would have to be approved by the US and EU, which continue to impose sweeping economic sanctions against Moscow. Picture: Reuters/Joe Skipper

The head of the world's largest aircraft leasing company, Dublin-headquartered AerCap, said on Wednesday that Russia may look to buy used aircraft or engines if and when its markets reopen, but that he saw no rush by Western lessors to return to the market.

Talks aimed at achieving a ceasefire in Ukraine have raised the prospect of a gradual reopening of Russia to Western firms, though the leasing industry remains scarred by the confiscation of some 400 jets following Moscow's invasion of Ukraine in 2022.