HomeAviation NewsDespite the cancelled lease, 21 ALC aircraft remained in Russia

Despite the cancelled lease, 21 ALC aircraft remained in Russia

In an April 12 update, Aircraft Lease Corporation, an aircraft financier, confirmed that it had leased 21 aircraft to Russian customers.

The Air Lease Corporation (ALC) said that it had 21 proprietary aircraft remaining in Russia. In March, it terminated the lease with the airline operators but has not yet recovered the aircraft.

ALC says 21 aircraft accounted for 3.4% of the total value of their fleet of $ 22.9 billion, about $ 779 million.

At the end of 2021, ALC’s portfolio consisted of 382 aircraft, 278 narrowbodies, and 104 widebody aircraft. It has 197 aircraft, 184 Boeing, and one Embraer aircraft.

It has a customer base of 118 airlines in 60 countries. The fleet is widespread, with Europe at 33%, Asia at 26%, China at 13%, and the Middle East and Africa at 11%. The balance is in America and Australia.

Some of ALC’s Russian customers include S7 Airlines, Azimuth Airlines, Nordwind Airlines, Azure Air, SmartVia, and Ural Airlines.

Does this airplane ever have to do it at home?

Simple Flying Air contacted the Lease Corporation to see if the planes were being used and if there was any way open for the company to recover them from Russia. We will update this article with no feedback.

Since March 31, leasing companies worldwide have been trying to recover more than 400 leased aircraft from Russian airlines. Except for the remaining 400, Russia has successfully occupied 78 leaseholders.

On March 31, Bloomberg quoted Russian Deputy Prime Minister Yuri Borisov as saying on TV:

“The whole fleet, that is, foreign aircraft, will remain in Russia. Some have been detained abroad because sanctions are being imposed, but the lion’s share of Boeing and Airbus remain in Russia.”

Moscow has passed a law allowing the aircraft worth 10 billion to be placed in the Russian registry in violation of international law. Most fleets were registered in Bermuda and Ireland, and their airworthiness certificates were revoked, which would generally ground them. Most, if not all, have been placed in the Russian registry.

Putin says it’s time to go locally.

Russian President Vladimir Putin has announced that “Western partners have deceived Russian companies by cancelling air supply and servicing and leasing agreements.”

“A month ago, European and US companies unilaterally refused to fulfill their obligations under agreements with Russian airlines.”

Putin also called it an opportunity for local aviation producers to increase their share of Russian fleets over the next decade. “Of course, with the provision of high quality, reliability, and cost-efficiency of our aircraft.”

While significant to ALC and its investors, their potential liability is less than that of Aircap. Taking swift action, AerCap has filed 3.5 billion in insurance claims for more than 100 of its aircraft stranded in Russia.

AerCap, the world’s largest aircraft lease, has the highest exposure of any tenant, and its work can inspire others to follow the path of insurance.

When the ban begins to bite, Russian airlines can man-eat parts of leased aircraft to affect other aircraft repairs. If it is hidden and no records are kept, the tenants will assume they will get them back, a significant disability asset.

It has been said that “a pile of scrap metal without proper maintenance records.”

Some Expensive Tenants vs Insurers get ready for battle.

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My name is Elroy Johnson The Founder and Admin Of skyeyesairlines.com. I am 21yrs Old and Passionate about blogging. I am always trying to learn something new about Airlines and love to share online useful stuff with friends and with the help of Blogs.
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