Sanctions - Companies specialising in the rental of aircraft are faced with the obligation to recover their aircraft leased by Russian companies before March 28th, as part of the European sanctions against Moscow. Beyond the closure of its airspace, the European Union has decided to ban the export to Russia of aircraft as well as parts and equipment from the aeronautical industry.
A total of 515 aircraft are leased by EU firms to Russian companies for a value of 12 billion euros. Ireland, where the largest leasing companies are located, is particularly affected. Based in Dublin, the largest company in the AerCap sector alone leases 152 aircraft to Russian or Ukrainian companies for a value of 2.1 billion euros. European aircraft leasing companies have until March 28th to terminate contracts and collect their aircraft.
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