Aeroflot has settled relations with the lessor SMBC Aviation Capital (Ireland) for 16 aircraft and another 1 aircraft managed by SMBC Aviation Capital. This is stated in the company's message.
In accordance with the agreements reached, the lessors have terminated their claims against the Russian parties both under insurance policies issued by Russian insurance companies and under leasing agreements with PJSC Aeroflot. The ownership of the aircraft was transferred to the insurance company NSK Insurance Company LLC, which paid the settlement amount.
SMBC Aviation Capital said,
The insurance settlement and receipt of the settlement proceeds from Limited Liability Company “Insurance Company NSK”, a Russian insurance company, were carried out in full compliance with all applicable laws, sanctions and regulations and have been approved by the U.S. Department of Commerce and the U.S. Department of the Treasury.
Aeroflot Group continues negotiations on the settlement of existing claims with other lessors of foreign-made aircraft.
Earlier, Aeroflot had announced the completion of the settlement process with the lessor AerCap (Ireland) for 18 aircraft and 5 aircraft engines operated by Aeroflot Group companies.
Aeroflot is a Russian airline , hit badly due to sanctions to operate certain fleet of aircraft requiring spare parts. The group of the same name also includes Rossiya and Pobeda airlines. Aeroflot Group is the undisputed leader of Russian civil aviation.
SMBC Aviation Capital also said,
SMBC Aviation Capital will continue to actively pursue its litigation in the Irish courts under its own insurance policies. SMBC Aviation Capital will also continue its efforts to seek to mitigate its losses in respect of its aircraft that were previously leased to other Russian airlines.
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