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International

Aircraft lessor SMBC Aviation sues Lloyd's over jets stuck in Russia

November 30, 2022 Reprints

Irish aircraft lessor SMBC Aviation Capital has sued Lloyd's of London in Ireland’s High Court to recover insurance payouts for 34 of its jets stuck in Russia due to the Ukraine war and European sanctions, Reuters reported. Earlier this year, SMBC recorded $1.6 billion in impairment charges for the jets confiscated by Russia.

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Aircraft lessor SMBC Aviation sues Lloyd's over jets stuck in Russia

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