Leading aircraft leasing firm, SMBC Aviation Capital, has said it is “unlikely” that it will be able to recover 34 owned aircraft stranded in Russia following the country’s ongoing invasion of Ukraine and subsequent sanctions, leading the company to recognise a $1.6 billion write-off.
“34 owned aircraft remain in Russia despite SMBC Aviation Capital terminating the leasing of these aircraft in line with international sanctions, which Russian airlines continue to fly within Russia and to countries from which repossession has not been possible,” reports SMBC in its FY21 results.
