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Leasing company pursues $80 million claim for aircraft lost in Russia

May 18, 2023

An aircraft leasing company is pursuing an $80 million claim for commercial airplanes lost in Russia following the invasion of Ukraine, despite the claimant never having seen the relevant policy documents.

Shearwater Aircraft Leasing made the claim, which relates to the loss of two commercial aircraft it had leased to Russian aviation group Norwind, according to a report by UK insurance broker Mactavish. Norwind failed to return the aircraft when the Ukraine war began and has continued to use them despite Shearwater’s repeated attempts to have them returned – a practice common with many Russian airlines, Mactavish said.

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