Aeroflot and BOC Aviation Reach Settlement Over Aircraft Claims

Aeroflot, the Russian flagship carrier, announced on Thursday that it has reached a settlement with BOC Aviation, a leasing company. As part of the agreement, nine aircraft will be transferred to the Russian state insurance company, NSK.


Aeroflot issued a statement saying that NSK would address the claim made by BOC Aviation. The airline did not provide additional details, and BOC Aviation, based in Singapore, did not immediately comment. BOC Aviation had initiated legal proceedings in Dublin in November 2022, seeking claims against 16 insurers for aircraft owned by the lessor that were stranded in Russia, as indicated by an Irish High Court document.


According to Aeroflot's statement, BOC Aviation will drop its legal claims related to the aircraft. Eight of these aircraft are owned by BOC, and one is managed by the company. Aeroflot stated that it will continue negotiations with leasing operators to resolve claims related to foreign-manufactured aircraft. The airline has previously reached several similar agreements.

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In September, AerCap, the world's largest aircraft lessor, reported that it had received $645 million from NSK. This payment was a full settlement of insurance claims for 17 aircraft and five spare engines leased to Aeroflot and its subsidiary, Rossiya.

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