Global Lawsuit: Insurers and Aircraft Lessors Battle over Multi-Billion Dollar Claims

The multi-billion dollar legal dispute between global insurers and aircraft leasing companies over aircraft "lost" in Russia has reached the courts in London. Representatives of the aircraft lessors argued on Wednesday that the insurers are attempting to shift liability and are desperately fighting against claims worth billions that have arisen in the context of the Ukraine conflict. Mark Howard, a renowned lawyer for AerCap, the world’s largest aircraft lessor, made it clear on the first day of the eagerly awaited trial that the insurers should have known that the retrieval of Western aircraft and engines is an unrealistic prospect. In one of the largest insurance disputes ever adjudicated in London, AerCap, Dubai Aerospace Enterprise (DAE), Merx Aviation, KDAC Aviation Finance, and Falcon are pitted against a multitude of insurers including AIG, Lloyd's, Chubb, and Swiss Re. During the proceedings, detailed arguments and comprehensive evidence are expected to be presented to determine whether, and to what extent, the insurers are obligated to cover the losses.