By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Travel Radar - Aviation NewsTravel Radar - Aviation News
  • Breaking News
  • Aviation
    • Aircraft
    • Airlines
    • Airshow & Events
    • Careers
    • Manufacturing
  • Travel
    • Airports
    • Points & Loyalty
    • Technology
    • Trip Reviews
  • Newsletters
Reading: Russia to Lose Hundreds of Aircraft from Repossession
Share
Sign In
Notification Show More
Font ResizerAa
Font ResizerAa
Travel Radar - Aviation NewsTravel Radar - Aviation News
  • Breaking News
  • Aviation
    • Aircraft
    • Airlines
    • Airshow & Events
    • Careers
    • Manufacturing
  • Travel
    • Airports
    • Points & Loyalty
    • Technology
    • Trip Reviews
  • Newsletters
Signin Sign In
Follow US
Copyright © Travel Radar Media Ltd. 2025 | All Rights Reserved
Travel Radar - Aviation News > News > Russia to Lose Hundreds of Aircraft from Repossession

Russia to Lose Hundreds of Aircraft from Repossession

Josh McMinn
Last updated: 2 March 2022 20:32
By Josh McMinn 3 Min Read
Share
SHARE

Following sanctions put in place by the European Union (EU) last week, EU lessors will have 30 days to terminate all aeroplane-leasing contracts with Russia. Firms are now rushing to repossess their aircraft, many of which are trapped in Russia.

The package of sanctions against Russia included measures designed to hurt their aviation industry. These included a blanket ban on all exports to Russia’s aviation industry and the closure of European airspace to Russian Aircraft. Exports include sales of aircraft parts and spares to Russia but also covers services such as the leasing of aircraft to Russian Airlines. European lessors have been told they have until 28 March to terminate all contracts with Russian carriers. Given the short deadline, many firms are wondering how they will manage to repossess their aircraft. An industry source told the Financial Times:

“The 30 days is going to be really difficult for lessors to figure out how to terminate [contracts]. The bigger issue is how do you repossess that many aircraft in that time?,”

 

More than half of Russia’s planes on lease

Data from chAviation shows that of the 980 passenger planes in Russia, 777 are leased, and 515 are from foreign aviation firms. Not all of those firms will be from the EU, but it’s fair to say all foreign lessors will have a vested interest in removing their aircraft from Russia for financial and insurance reasons. Irish leasing firm AerCap is currently the most exposed, with 149 of its aircraft being leased to Russian Airlines. Aercap has said they will cease all leasing activities within the legally-mandated timeframe.

Aercap plane in flight
AerCap have $2.4billion worth of aircraft in Russia | © AerCap

Lessors could face financial difficulties.

With Russian banks facing expulsion from the Swift system and the rouble crashing, any foreign lessors who do not cease their contracts are likely to face financial difficulties. Many Russian carriers rely on lines of credit to pay leasing companies, so sanctions on Russian banks could cause a cascade of failed payments. Insurance is a concern, too, one that is also affecting lessors operating in Ukraine. Insurance companies can lose billions of dollars from military conflicts, which are not recouped by their premiums, so they may not want to insure planes stationed in Russia.

What are your thoughts on the EU sanctions? Let us know in the comments below!

You Might Also Like

In-Flight Gambling: A Multi-Billion-Dollar Opportunity Grounded by History and Law

Moving Abroad: How to Choose the Right Country for Your Next Adventure

RwandAir Expands Fleet, Welcomes Two New Boeing 737-800s

Delta Agrees to Pay $78.75 million Settlement for Fuel Dump Lawsuit

airBaltic Celebrates 30th Anniversary

Share This Article
Facebook Twitter Email Copy Link
What’s your thoughts?
Love0
Sad0
Happy0
Angry0
Josh McMinn
By Josh McMinn
Follow:
Jr Reporter - Josh is an Jr. Aviation Reporter at Travel Radar covering the latest industry news, developments and passenger experiences. Outside of reporting, Josh is a talented artist and camera operator with experience spanning several industries.
Previous Article Ryanair Keen to Resume Flights to Ukraine when Safe
Next Article More Areas Out of Bounds for Flights as Ukraine Invasion Continues
Leave a comment
Subscribe
Login
Notify of
guest
guest
0 Comments
Oldest
Newest Upvoted
Inline Feedbacks
View all comments

Stay Connected

FacebookLike
TwitterFollow
InstagramFollow
YoutubeSubscribe

Trending News

Qantas A321XLR
Qantas Orders 20 New A321XLR Aircraft
Aircraft Airlines Aviation Manufacturing Route Development
Federal Aviation Authority with University of Dayton researched the EMAS a safety feature
Philadelphia International Airport Installs new Safety Feature on Runway to Stop Overrun Aircraft
Aviation Travel Radar
JetBlue aircraft
JetBlue and Condor Expand Partnership to Boost Loyalty Benefits
Airlines Points & Loyalty Travel
Cochin International Airport Terminal
Kerala Aviation Summit 2025: Focus on Infrastructure and Flight Connectivity
Airports Airshow & Events Aviation
Finnair Airbus A330-300 on the runway at Heathrow airport
Finnair Launches New Mediterranean Routes
Airlines Aviation Route Development Travel
//

Travel Radar is the leading digital hub for all things aviation and air-travel. Discover our latest aviation news, aviation data, insight and analysis.

Discover

  • Latest News
  • Subscribe
  • Weekly Digest
  • Contact Us
  • Privacy Policy
  • About Us
  • Advertising
  • Media Coverage
  • Press & Events
  • Join Our Team
  • Our Brands

Signup to our Newsletter!

And get the latest aviation news via our weekly news digest!

© Travel Radar Media Ltd. 2015-2025 | ISSN #2635-0696 | Trademark #UK00003579704
wpDiscuz
adbanner
AdBlock Detected
Ads help us bring you high-quality, independent journalism for free. Support us by whitelisting us from your ad blocker.
Okay, I'll Whitelist
Welcome to the TR Community!

Sign in to your account

Register Lost your password?