DUBLIN, May 22 – SMBC Aviation Capital has announced it secured an additional $654 million over the past year through insurance settlements linked to aircraft stranded in Russia, raising its total recoveries to $1.41 billion.
The Dublin-based aircraft lessor revealed the latest figure on Thursday, highlighting the financial impact of Western sanctions imposed after Russia’s invasion of Ukraine. These sanctions left dozens of leased aircraft grounded in Russian territory, prompting a wave of insurance claims across the aviation industry.
SMBC is among six lessors that recently withdrew from a lawsuit in Ireland after reaching multiple settlement agreements with insurers. The legal action sought compensation for aircraft losses tied to sanctions and the Russian government’s refusal to return leased jets.
The substantial recovery underscores the importance of comprehensive business insurance coverage in mitigating geopolitical and operational risks. As companies navigate increasingly complex global markets, having access to trustworthy insurance providers and robust policies remains critical to long-term stability.
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