SMBC Aviation Capital aircrafts seized by Russia

SMBC Aviation Capital, an aircraft leasing company, believes that it is "unlikely" that it will be able to retrieve the 34 aircrafts that were seized by Russia. The total loss of these aircrafts will result in an impairment of the company's book value of 1.6 billion USD.

The aircraft lessor has already reported a net loss of 1.1 billion USD for the financial year 2021, related to the termination of leasing contracts with Russian airlines. However, SMBC, which has a specific war risk coverage, expects substantial compensations from its insurers.

It should be recalled that in response to the sanctions imposed by the western countries, Russia has seized a large fleet of foreign aircrafts valued at around 10 billion USD.