Aircraft leasing firms have secured settlements with Russia totaling more than $2.5 billion for over a quarter of the roughly 400 aircraft stuck in the country since Moscow’s invasion of Ukraine in 2022.

In return, international lessors are handing ownership of the planes to state insurance company NSK, which will transfer them to Russian airlines.

NLK-Finance, a subsidiary of NSK, has been allocated 296.8 billion roubles ($3.31 billion) to date to buy out aircraft that have been the subject of a stand-off between international lessors and insurers, Russia’s finance ministry said this month.

The impact of these

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