SMBC Aviation Capital announces insurance settlement in respect of aircraft previously leased to Aeroflot.

The amount represents a settlement of SMBC Aviation Capital’s insurance claims under Aeroflot’s insurance and reinsurance policies relating to sixteen (16) aircraft and associated engines. An additional insurance settlement has been concluded for one (1) aircraft and associated engines managed by SMBC Aviation Capital.

The insurance settlement and receipt of the settlement proceeds from Limited Liability Company “Insurance Company NSK”, a Russian insurance company, were carried out in full compliance with all applicable laws, sanctions and regulations and have been approved by the U.S. Department of Commerce and the U.S. Department of the Treasury. 

SMBC Aviation Capital will continue to actively pursue its litigation in the Irish courts under its own insurance policies. SMBC Aviation Capital will also continue its efforts to seek to mitigate its losses in respect of its aircraft that were previously leased to other Russian airlines.

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For more information please contact:

Charles O’Brien, FGS Global                             +44 20 7251 3801

Richard Webster-Smith, FGS Global                  +44 20 7251 3801

Note to Editors

About SMBC Aviation Capital  

Based in the IFSC in Dublin Ireland, SMBC Aviation Capital is the second largest aircraft operating lease company globally by number of aircraft, with an owned, managed and committed fleet of just under 900 aircraft. The company focuses on the most technologically advanced, fuel efficient and narrowbody aircraft types, providing customers across the globe with the aircraft they need to successfully grow their businesses.  Established in 2001, the company was acquired in 2012 by a consortium comprised of two of Japan’s biggest companies SMFG and Sumitomo Corporation.  For additional information, please visit SMBC Aviation Capital’s website at https://www.smbc.aero/