Leased Russian planes worth billions face grounding, seizures

Leasing firms are facing the challenge of recalling jetliners worth billions of dollars from Russian airlines, as sanctions imposed over the Ukraine invasion threaten carriers’ ability to fund and operate rented planes. EU sanctions announced on Sunday ban the supply of “all goods and technology” linked to aircraft. Planes can’t be insured, either. That means leasing firms will be required to terminate all contracts with Russian airlines over the next 30 days, said a senior leasing executive with aircraft in the country. More than half of the active commercial aircraft based in Russia are leased, mostly from companies based abroad, according to analysis from IBA Group, which advises airlines, planemakers, banks and lessors. That tally includes scores of aircraft at flag-carrier Aeroflot. More than half of the active commercial aircraft based in Russia are leased, mostly from companies based abroad, according to analysis from IBA Group, which advises airlines, planemakers, banks and lessors. That tally includes scores of aircraft at flag-carrier Aeroflot. <br/>