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SMBC Joins List of Aviation Lessors Suing Insurers Over Jets Stuck in Russia

November 29, 2022

SMBC Aviation Capital has joined most of the world’s largest aircraft lessors in pursuing insurance claims through the courts over jets it owns that are stuck in Russia, an Irish High Court filing showed.

Irish-headquartered SMBC recorded an impairment of $1.6 billion earlier this year to cover the full financial impact of having 34 jets stuck in Russia after European Union sanctions that forced the termination of all Russian leases.

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