DAE gets a USD 282 mn payout: Homegrown aircraft lessor Dubai Aerospace Enterprise (DAE) received nearly USD 282 mn in settlements from ins. firms for some of its jets 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.

SOUNDS FAMILIAR? The lessor received some USD 201 mn in settlements back in December over the same dispute claim. The aforementioned carriers were subject to international leasing disputes after they were retained in Russia amid the imposition of global sanctions following the Ukraine conflict. 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 aircraft and equipment on lease in Russia. It reportedly reached a full settlement with Axa over some of its claimed jets back in October 2024.

Background: Russian airlines were sanctioned and required to return back some 400 leased planes valued at almost USD 10 bn back in 2022, while some 78 planes leased out to Russia were seized abroad and would not fly back to Russia. Russia subsequently approved a law permitting foreign jets to be registered in the country — making it harder for the carriers to be retrieved.

What’s next? The Dubai-based lessor said it will continue to actively pursue its 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.

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