EasyJet exits leases on Russia-owned jets in sanctions turnabout

EasyJet terminated rental contracts on six Airbus jets owned by a Russian state leasing company in a rare example of sanctions depriving a European carrier of aircraft. EasyJet canceled the leases on the A319 narrow-bodies -- each over 11 years old -- owned by a unit of state-controlled GTLK shortly after the UK and European Union acted to punish Vladimir Putin over the invasion of Ukraine in late February, according to a person familiar with the matter. The carrier acted due to the Russian link even though it wasn’t clear at the time whether rapidly evolving rules would allow it to operate or maintain the aircraft, said the person, who asked not to be named discussing confidential matters. Aviation has been a flash point in the global faceoff between Moscow and nations led by the US, UK and European Union since the Feb. 24 invasion. While a range of sanctions targeting the industry were meant to sever Russia’s links with the outside world, European entities have also been caught up in the measures. EasyJet is one of a handful of non-Russian carriers that rented planes from Russian-owned lessors. The six jets have been in storage since March 2020, according to aviation analytics firm Cirium, when the coronavirus pandemic caused a sudden drop in demand for air travel.<br/>