AerCap Works to Mitigate Losses Stemming from Ukraine War | Aviation International News

AerCap Works to Mitigate Losses Stemming from Ukraine War

Almost 5 percent of AerCap’s fleet remains in Russian hands.

An Aeroflot Boeing 777-300ER takes off from Moscow Sheremetyevo Airport in 2018. (Photo: Flickr: Creative Commons (BY-SA) by Anna Zvereva)

By Gregory Polek • Senior Editor

March 30, 2022

Irish lessor AerCap has terminated all its leases with Russian customers and repossessed 22 out of 135 of its aircraft in the country, amounting to about 5 percent of its fleet value, company CEO Aengus Kelly said during a March 30 earnings call. Also recovering three out of 14 engines it leased to Russian customers, the net value of the assets removed from the country amounts to about $400 million. AerCap estimates that the value of its assets leased in the country at $3.1 billion.

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