DUBLIN (Reuters) – Aircraft leasing company Avolon is suing Lloyds Insurance in the Irish High Court as leasing giants file lawsuits over huge losses linked to the Russia-Ukraine war, the report said. It was revealed in documents shown Thursday.
Avolon posted an impairment loss of $304 million in the first quarter and suffered financial losses after 10 jets were stranded in Russia following EU sanctions that forced the termination of all Russian leases. I covered the impact.
A spokesperson for Avolon declined to provide details of the claim, saying, “We have always insisted on pursuing our claims with rigor, and the issuance process is now in the next phase of that process.” said.
By Conor Humphries.Editing by David Evans
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