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Aeroflot Resolves Lease Disputes with Irish Lessors

Aeroflot, the Russian flag carrier, has successfully settled issues with Irish lessor CDB Aviation involving four aircraft currently under operational leasing, according to a company spokesperson.

The lessor has withdrawn its demands against the Russian side concerning both insurance policies issued by Russian insurance companies and the leasing agreements with Aeroflot. Ownership rights to the aircraft have been transferred to the insurance company LLC “Strakhovaya Kompaniya NSK,” which made the settlement payment.


In a broader context, Aeroflot is in negotiations with foreign lessors to settle insurance claims for 61 aircraft currently under operational leasing, as previously reported by the airline’s CEO, Sergey Alexandrovskiy. Ultimately, these aircraft will become the property of a leasing company established in Russia. This company will finance their acquisition using funds from the National Welfare Fund (NWF), while Aeroflot will make leasing payments on their behalf. This arrangement will facilitate the removal of these aircraft from foreign registries, allowing them to be used on international routes without the risk of seizure.

In early September, Aeroflot announced the resolution of disputes over 18 aircraft and 5 engines with Irish lessor AerCap. In early October, a similar agreement covering 17 aircraft was reached with Irish lessor SMBC Aviation Capital. These aircraft have also been transferred to NSK, a company affiliated with the Federal Agency for Air Transport. NSK controls the leasing company LLC “NLK-Finans,” which Aeroflot had previously transferred at least 10 Boeing 777 aircraft to, acquired from foreign lessors under financial lease agreements (which, unlike operational leases, were not subject to Western sanctions).

As of the end of September, the Aeroflot Group (comprising Aeroflot, Pobeda, and Rossiya) had a total fleet of 348 aircraft, as indicated on the company’s website.

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