SMBC Aviation Capital Secures $710 Million Insurance Payout for Aeroflot Leases

SMBC Aviation Capital has confirmed the receipt of an insurance settlement totaling approximately USD710 million from Russian state-owned insurer NSK. The settlement pertains to seventeen aircraft and associated engines leased to Aeroflot Group carriers. SMBC emphasized that the payout, covering sixteen owned aircraft and one managed by the lessor, complies with all current laws and sanctions imposed on Russia.

The lessor announced its intention to continue actively pursuing litigation in the Irish courts under its insurance policies. SMBC Aviation Capital will also persist in efforts to mitigate losses concerning aircraft previously leased to other Russian airlines.

This settlement follows a similar agreement reached in early September between AerCap and Russian insurers, where AerCap received approximately USD645 million for 17 aircraft and five spare engines leased to Aeroflot and Rossiya.