Key Points:

  • Aeroflot Group, the Russian airline operator, has achieved a settlement concerning the lease of foreign aircraft with the Irish-based lessor, CDB Aviation.

  • The recent settlement agreement ensures that CDB Aviation withdraws its claims linked to Russian insurance policies and Aeroflot's leasing contracts.

  • While Aeroflot remains discreet about the specific aircraft involved in the settlement, CDB Aviation announced the delivery of Airbus A320neos and an A321neo to Aeroflot in 2021.

Russian airline operator, Aeroflot Group, achieves a settlement over leased aircraft

MOSCOW — The Aeroflot Group, a renowned Russian airline operator, has successfully secured another settlement concerning its leased foreign aircraft. This recent agreement involves CDB Aviation, a prominent lessor based in Ireland. Although the financial details of the arrangement remain undisclosed, it encompasses four specific aircraft.

Transfer of Ownership and Ceased Claims 

In light of this newly minted settlement, Aeroflot highlighted that CDB Aviation has formally abandoned its claims associated with Russian insurance policies and Aeroflot's respective leasing agreements. The aircraft ownership has transitioned to the NSK insurance company, which handled the payment for the settlement.

Ongoing Negotiations and Previous Agreements

 While the recent settlement marks a significant step, Aeroflot Group is actively engaging in discussions to address remaining claims from other lessors of foreign-manufactured aircraft. The airline operator has previously announced reaching similar accords with both AerCap and SMBC Aviation Capital. Although Aeroflot has remained reticent about the models involved in the CDB Aviation settlement, it's worth noting that CDB Aviation declared in May 2021 its plans to provide Aeroflot with three Airbus A320neos and an A321neo under a long-term lease.

Background Context

Complicating the situation, sanctions placed upon Russian entities due to the conflict in Ukraine led the Russian government to hold onto and re-register numerous foreign-made aircraft leased to domestic operators.

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