Russian carrier Nordwind Airlines has settled a claim over five aircraft in its fleet which had been leased from Irish-based AerCap.
AerCap says it has received “full settlement” proceeds of around €91 million ($107 million) from Russian insurance firm NSK.
“We have released our claims against NSK, Nordwind and its international reinsurers with respect to these five aircraft,” says the lessor.
While AerCap has not identified the aircraft types involved, aviation market intelligence and advisory company IBA lists both Airbus and Boeing types – including A330s, A321s and 737s – as having been sourced from the lessor by Nordwind.
AerCap says the Nordwind settlement brings pre-tax recoveries relating to the Ukrainian conflict to $2.9 billion since 2023.
The lessor had pursued a commercial court claim in London over 116 aircraft and 15 engines lost to Russian operators, and secured a legal victory – alongside other leasing firms – in June when it was awarded an indemnity of around $1 billion.
AerCap states that the court recently denied the insurers permission to appeal this decision, and also ruled that the lessor was entitled to recover interest of $234 million.
