DAE gets a USD 282 mn payout: UAE’s aircraft lessor Dubai Aerospace Enterprise (DAE) received nearly USD 282 mn in settlements from ins. firms over some of its carriers previously on lease to airline operators in Russia, according to a statement. The move brings the total of DAE’s reclaimed Russia-affiliated settlements to USD 601 mn — including those made in 2023 and 2024.

What’s next? The Dubai-based lessor said it will continue to actively pursue legal proceedings in British courts where many trials have taken place between ins. providers and aircraft lessors over aircraft left in Russia, including a mega trial back in October.

The context: Russian airlines were sanctioned and required to return back some 400 leased planes valued at almost USD 10 bn back in 2022 in the wake of Russia’s invasion of Ukraine. About 78 planes leased out to Russia were seized abroad then, but Russian airlines held on to the remaining carriers, putting them mostly on domestic routes. Russia subsequently approved a law permitting foreign jets to be registered in the country — making it harder for the carriers to be retrieved.

The consequences: Russia holding on to the jets have left leasing companies like DAE scrambling to secure compensations from ins. companies. DAE and its affiliates had previously issued claims against a number of ins. and reins. companies, including French ins. provider Axa — against which it had issued USD 737.8 mn in claims for leased aircraft and equipment stuck in Russia. It reportedly reached a full settlement with Axa over some of its claimed jets back in October 2024.

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