Ireland terminated lease agreements with Russian airlines

The Association of Aviation Lessors of Ireland announced the termination of all lease agreements with airlines of the Russian Federation. This decision was made in accordance with the EU sanctions imposed against Russia, whose troops invaded the territory of Ukraine. This is reported by Reuters. Such agreements have been terminated by all Irish aircraft leasing companies. The world’s largest lessor AerCap Holdings from Ireland also joined the sanctions. As noted in the message of the Association, the share of Irish companies that lease aircraft in the global fleet of aircraft leased exceeds 60%. The sanctions imposed by the EU against Russia prohibit Russian airliners from crossing the EU space. In addition, a ban was imposed on the export and leasing of equipment, insurance and maintenance of aircraft. According to these requirements, European leasing companies had to return their aircraft from Russia on March 28.