Hundreds of leased aircraft stuck in Russia

The landlords of hundreds of aircraft in Russia are unlikely to see their property again any time soon because of the sanctions. A Russian draft law published Thursday suggests years of litigation over jets worth tens of billions of US dollars are likely to ensue. Western sanctions against Russia over the war in Ukraine are forcing Western leasing companies to cancel contracts with Russian airlines by March 28. But whether they will get their property is unclear. According to the Russian Transport Ministry’s draft, if the contracts are terminated, a government commission will decide whether the aircraft can be returned or must remain in Russia. The Russian airlines could also register the aircraft as their property in Russia and obtain operating licenses.

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