Hundreds of Irish-Owned Aircraft Ordered Back From Russia

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February 28. Hundreds of Irish-owned aircraft on lease in Russia will be recalled by their owners as sanctions against Russia escalate. Major aviation lessors based in Ireland, including AerCap and SMBC Aviation, have hundreds of aircraft in Russia.

As Russia continues to be hit by sanctions, Irish-based aviation lessors are expected to terminate their leasing agreements with Russian carriers. Firms have established taskforces to help them get their aircraft out of Russia and calculate the financial impact of impending sanctions.

Under EU sanctions announced on Sunday, leasing firms must terminate all contracts with Russian carriers over the next 30 days.

Source: Simple Flying