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Search resuls for: "AerCap"


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☆ Factbox: Aircraft lessors sue insurers for $8 billion over trapped Russian planes
  + stars: | 2022-11-30 | by ( ) www.reuters.com   time to read: +4 min
LONDON, Nov 30 (Reuters) - Aircraft leasing firms are suing dozens of insurers for around $8 billion in a string of lawsuits over the loss of hundreds of aircraft stuck in Russia since Moscow's invasion of Ukraine. Lessors argue the aircraft are covered by policies against war or theft, but insurers point out the planes are undamaged and might yet be returned. Here is a list of claims filed against insurers in London, Dublin and the United States, with the most recent filing listed first. SMBC AVIATION CAPITAL VS LLOYD'S OF LONDONSMBC filed a claim against Lloyd's of London (SOLYD.UL) in the Irish High Court on Nov 28. BOC AVIATION VS 16 INSURERSBOC Aviation has begun legal action against 16 insurers, according to an Irish High Court filing on Nov 3.
☆ Aircraft lessor AerCap raises earnings outlook on growing demand
  + stars: | 2022-11-03 | by ( ) www.reuters.com   time to read: 1 min
DUBLIN, Nov 3 (Reuters) - The world's top aircraft lessor AerCap (AER.N) on Thursday raised its earnings outlook for the year citing robust demand for air travel and growing demand for both new and used aircraft. The Ireland-based lessor raised its forecast for adjusted earnings per share to a range of $8-8.50 from a previous range of $6.50 to $7, "given strong performance year to date and fourth quarter outlook," it said in a statement accompanying its third-quarter results. "We continued to see robust demand for air travel and growing demand for both new and used leased aircraft and engines... As a result, we are raising our guidance for full year 2022," Chief Executive Aengus Kelly said. Writing by Conor Humphries; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.
☆ Sky-high rents hit the aircraft market as Boeing jets top $300,000 a month
  + stars: | 2022-08-25 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +4 min
The world's largest aircraft leasing firms, like Air Lease , Avolon and AerCap , which acquired GE 's airplane leasing business last year, are reaping the benefits. A tight supply of aircraft is driving up the price airlines pay to rent planes, just as travel demand returns. This year's surge in oil prices make newer, fuel-efficient planes more attractive than older ones, and higher interest rates could also drive up lease rates. "That will push lease rates higher through the rest of the year." Cronin said lease rates for Boeing Maxes and Airbus A320neos have risen by 10%-15% so far this year.
☆ Russian law creates new hurdle for foreign plane lessors
  + stars: | 2022-03-14 | by ( ) www.reuters.com   time to read: +4 min
Russian airlines have almost 780 leased jets, with 515 leased from abroad. Lawyers say a three-way legal battle between airlines, lessors and insurers could last for a decade. Major Russian airlines Aeroflot and S7 also declined comment. The Russian Federal Aviation Agency said 776 planes were registered abroad as of Feb. 24, the day Russia invaded Ukraine. Russia's state aviation authority recommended last week that airlines with foreign-leased aircraft suspend flights abroad, making it harder for lessors to make repossessions.
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