Air Lease chairman says pursuing insurance claims over Russia

2022.05.09 13:27

FILE PHOTO: CEO of Air Lease Corp. Steven Udvar-Hazy (L) rings the New York Stock Exchange bell alongside CEO of Boeing Commercial Airplanes Ray Conner (R) at the Farnborough Airshow 2012 in southern England July 9, 2012. REUTERS/Luke MacGrego

DUBLIN (Reuters) – Air Lease (NYSE:AL) Corp is pursuing “vigorous” insurance claims over jets stranded in Russia following changes in the law preventing their repossession, Steven Udvar-Hazy, founder and executive chairman of the U.S. lessor, told the Airline Economics conference.

It would have been difficult for the leasing industry to prepare for such a “once in a post-World War II event,” he said.

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