Hard landing: Lessors lose hope of getting Russian planes back

Most Irish-based aircraft lessors have less than 10% of their portfolio in Russia

Russian national carrier Aeroflot had been viewed as the best credit risk before the invasion but that assessment no longer applies after Moscow's move to register its planes in Russia.

As the clock runs down to today's sanctions deadline for Russian airlines to hand back more than 400 leased planes worth almost $10bn, foreign lessors are fast losing hope that they will get their aircraft back.

Most of the planes are still flying Russian domestic routes, aviation consultants IBA say, although Bermuda and Ireland - where most are registered - have suspended airworthiness certificates which usually means they should be grounded.