AerCap Files $3.5B Claim For Seized Russian Aircraft - AerCap Holdings (NYSE:AER)

AerCap Holdings N.V. AER submitted a $3.5 billion insurance claim for more than 100 jets stuck in Russia following its invasion of Ukraine and intends to pursue all claims under these policies concerning the assets leased to Russian airlines as of February 24, 2022.
Dublin-based aircraft lessor AerCap had an exposure of 5% of its fleet by value to Russian airlines.
"Last week we submitted an insurance claim for approximately $3.5 billion with respect to our aircraft and engines remaining in Russia," a Reuters report quoted AerCap CFO, Peter Juhas.
AerCap expects to book an impairment in Q1 but has not determined how big that might be.
The report added that Juhas estimates AerCap's net Russia exposure at around $2.5 billion.
AerCap had 135 aircraft and 14 engines on lease to Russia but has repossessed and removed 22 aircraft and three engines outside of the country.
Price Action: AER shares are trading lower by 8.01% at $51.67 on the last check Wednesday.