Insurers led by AIG are asking London’s High Court to merge various lawsuits brought by aircraft lessors against insurance companies refusing to pay out claims for jets effectively confiscated in Russia.
AerCap Holdings NV, the world’s biggest jet lessor, is suing AIG, along with Lloyd’s Insurance Company and Fidelis Insurance for $3.5 billion after they denied the leasing company’s claims for the 116 planes it has stuck in Russia with various airlines. AerCap opposed the clubbing of the cases saying it would delay the case and might make settlements more difficult.
