AerCap has sued the Russian carrier Volga-Dnepr for £339 million ($427 million) , accusing it of using eight Boeing aircraft under the cover of sanctions.
Filed on May 17th , AerCap Holdings alleged in a High Court lawsuit that the Russian carrier has failed to return back eight Boeing aircraft and continues to use them inside Russia , even after AerCap has terminated the leases after Russian invasion of Ukraine.
Volga-Dnepr blames it on the state Authorities. Volga-Dnepr said that it was attempting to return the planes , but that it needed approval from Russian customs authorities , which they never got.
Other affected Lessors : Air Lease Corporation Statement :
"In March of 2022, we terminated leases for all ALC aircraft on lease to Russian airline customers. We currently have 21 owned aircraft remaining in Russia, representing approximately 3.4% of our fleet by net book value as of March 31, 2022."
AerCap told the High Court that Volga-Dnepr has continued to use the aircraft in Russia while refusing to pay money owed on the contracts , even though the lease contracts were dissolved in early March.
AerCap has also filed in the lawsuit that Volga-Dnepr's subsidiaries 'AirBridgeCargo Airlines' and 'Atran' have apparently attempted "the unilateral re-registration of the aircraft in Russia, contrary to international law."
AerCap has 152 aircraft worth about $2.5 billion stuck across Russia and Ukraine , and contracts of the Russian operators have been terminated by March 28th , due to the EU sanctions.
