Lessors May Never Recover Hundreds Of Planes In Russia

Western leasing companies that own hundreds of planes marooned in Russia face little prospect of getting them back, which means they will incur billions of dollars in losses, Niraj Chokshi reported for the New York Times.

Photo Insert: There were 523 aircraft leased to Russian carriers by companies outside the country, with 101 are on lease to S7 Airlines and 89 to Aeroflot.

Hope has faded quickly for a handful of Western companies eager to recover planes leased to airlines in Russia, with the authorities there intent on keeping foreign-registered aircraft within the country and President Vladimir V. Putin openly discussing nationalizing the assets of foreign businesses.

As of Thursday, there were 523 aircraft leased to Russian carriers by companies outside the country, according to IBA, a consulting firm. Of those, 101 are on lease to S7 Airlines and 89 to Aeroflot.

Both airlines have stopped flying internationally, eliminating any chance of repossessing the planes on foreign soil. Worse, foreign companies providing maintenance support and a steady supply of parts for commercial jets have shut down operations in Russia in protest over its invasion of Ukraine.

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