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Avolon Reports US$304m Impairment on Russia

DALLAS – Avolon has recorded a US$304m loss on aircraft leased to Russian customers who are now subject to international sanctions. The recognition reduces the carrying value of 10 aircraft to zero, according to the lessor’s Q1 results update on May 3.

Avolon had 14 planes placed with Russian customers prior to Russia’s invasion of Ukraine on February 24. Three were outside Russia for maintenance just before the sanctions were imposed, and one had been returned by the lessee. This left 10 planes in Russia, which Avolon attempted but failed to reclaim.

An S7 Siberia Airlines’ (S7) Airbus A320neo was delivered read more ⇒

Source:: “Airways Magazine”

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