Russia's leased jet cases to be heard in London

BTN News
Sunday, 31 March 2024

A US$10 billion legal case to control more than 200 jets stuck in Russia should be heard in London rather than Moscow, London’s High Court has ruled.


The judgment affects 'operator' policies, under which Russian airlines leased the jets through international lessors, insured them through Russian insurers, and then reinsured those policies through the London market.

Lessors are named as insured and can claim directly in some instances.

Both reinsurers and aircraft leasing companies want payouts to offset losses after Russia’s invasion of Ukraine left their jets grounded in Russia.

The lessors generally want the legal case heard in London rather than Moscow because they feel more confident of a fair decision in a Western court, though some major reinsurers (including AIG, AXA and some Lloyd’s of London syndicates) argued their policies stipulated a dispute should be heard in Moscow.

The judge ruled that “the claimants are very unlikely to obtain a fair trial in Russia”.

A London trial is scheduled for October.

Russia's leased jet cases to be heard in London

BTN News
Sunday, 31 March 2024

A US$10 billion legal case to control more than 200 jets stuck in Russia should be heard in London rather than Moscow, London’s High Court has ruled.


The judgment affects 'operator' policies, under which Russian airlines leased the jets through international lessors, insured them through Russian insurers, and then reinsured those policies through the London market.

Lessors are named as insured and can claim directly in some instances.

Both reinsurers and aircraft leasing companies want payouts to offset losses after Russia’s invasion of Ukraine left their jets grounded in Russia.

The lessors generally want the legal case heard in London rather than Moscow because they feel more confident of a fair decision in a Western court, though some major reinsurers (including AIG, AXA and some Lloyd’s of London syndicates) argued their policies stipulated a dispute should be heard in Moscow.

The judge ruled that “the claimants are very unlikely to obtain a fair trial in Russia”.

A London trial is scheduled for October.