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AerCap (AER) and Air France KLM Negotiate LEAP Engine Leasing Venture
AerCap (AER) and Air France KLM Negotiate LEAP Engine Leasing Venture

Yahoo

time7 days ago

  • Business
  • Yahoo

AerCap (AER) and Air France KLM Negotiate LEAP Engine Leasing Venture

AerCap Holdings N.V. (NYSE:AER) is one of the 11 best industrial stocks to buy right now. On June 17, the company announced it has entered into exclusive negotiations with Air France Industries KLM Engineering & Maintenance (AFI KLM E&M). A side view of a large commercial aircraft taking off from a modern airport runway. The two are in discussions about forming a joint venture to lease LEAP engines. The initiative seeks to support AFI KLM E&M's LEAP premier MRO customers by ensuring operational continuity for Airbus A320neo and Boeing 737 MAX operators. Under the proposed joint venture, both companies will own and manage a pool of LEAP-1A and LEAP-1B spare engines. The engines will come in handy to ensure uninterrupted operations for airlines whose aircraft engines are undergoing quick-turn or performance restoration. The joint venture builds on a strong relationship between AerCap and AFI KLM in the field of lease engine support. It also builds on core strengths such as AerCap's expertise in aircraft and engine leasing and asset management and AFI KLM experience as an airline-affiliated MRO. AerCap Holdings N.V. (NYSE:AER) is a global aircraft leasing company engaged in the leasing, financing, sale, and management of commercial aircraft and engines. It operates through a single segment—Commercial Flight Equipment—and also offers engine leasing, aircraft parts, and asset management services. Its operations span the UK, U.S., and other international markets. While we acknowledge the potential of AER as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

UK court rules insurers must pay more than $1bn for planes seized in Russia
UK court rules insurers must pay more than $1bn for planes seized in Russia

Yahoo

time13-06-2025

  • Business
  • Yahoo

UK court rules insurers must pay more than $1bn for planes seized in Russia

The High Court in London has ruled that insurers must compensate aircraft leasing companies for losses exceeding $1bn related to jets stranded in Russia following the country's invasion of Ukraine in February 2022. This follows a lawsuit, led by leasing companies including Ireland's AerCap and Dubai Aerospace Enterprise (DAE), against insurers such as AIG, Lloyd's of London, Chubb and Swiss Re. Justice Christopher Butcher concluded that 147 aircraft and engines, valued at up to $4.7bn, were 'lost' on 10 March 2022, when Russian legislation banned the export of aircraft and equipment. Butcher attributed the loss to 'an act or order of the Russian government'. This allowed lessors to recover under their war risks insurance policies, rather than broader all risks policies. AerCap, an aircraft lessor, secured $1.035bn for 116 aircraft and 15 engines. This was stated by AerCap's law firm Herbert Smith Freehills Kramer. DAE, which sought to recover losses for 22 aircraft, managed to retrieve three but lost the rest, according to the Guardian. Other claimants included Dubai's Falcon and Genesis, Merx Aviation and KDAC Aviation Finance, which settled all its claims during the trial, Butcher said. The judge ruled that EU and US sanctions did not prevent insurers from indemnifying the lessors. The case, described by Butcher as 'an unusually demanding piece of litigation', followed Western sanctions that forced leasing companies to terminate contracts with Russian airlines by 28 March 2022. Russia subsequently re-registered many planes without owners' consent, prompting legal action in London and Dublin. "UK court rules insurers must pay more than $1bn for planes seized in Russia " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

American Electric to recover $1.5B from insurers
American Electric to recover $1.5B from insurers

Yahoo

time12-06-2025

  • Business
  • Yahoo

American Electric to recover $1.5B from insurers

AerCap Holdings has announced that in a judgment the Commercial Court in London found that its subsidiary, AerCap Ireland Limited, is entitled to recover its claim for an indemnity of approximately $1B from the insurers under the 'War and Allied Perils' Coverage section of its contingent and possessed insurance policy. This award is in respect of the aircraft and engines which AerCap and its affiliates formerly leased to Russian airlines and were not recovered from Russia following its invasion of Ukraine in February 2022. The indemnity amount is due to be paid by July 2. All questions of interest and costs are adjourned to a further hearing to be fixed in September. In 2022, the company recognized a pre-tax net charge of $2.7B to earnings, which included a total loss write-off with respect to the assets which remained in Russia and Ukraine and impairment losses with respect to the assets which we had recovered from Russia and Ukraine at that time. Following recoveries of $1.3B in 2023 and $195M in 2024, this indemnity award will bring AerCap's total pre-tax recoveries relating to the Ukraine conflict to approximately $2.5B. The claims against insurers and reinsurers of the Russian airlines' insurance policies in respect of a number of these assets remain ongoing in the Commercial Court in London and we intend to continue to vigorously pursue those claims. However, the collection, timing and amount of any potential further recoveries in respect of those claims are uncertain. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on AEP: Disclaimer & DisclosureReport an Issue American Electric Power Finalizes $2.82 Billion Partnership American Electric price target raised to $100 from $95 at UBS American Electric closes on transmission investment strategic partnership Bloom Energy projects with American Electric, Amazon approved by PUCO PUCO approvals removes regulatory overhang for Bloom Energy, says Morgan Stanley Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

AerCap can recover over $1 billion, UK court rules in case over jets 'lost' in Russia
AerCap can recover over $1 billion, UK court rules in case over jets 'lost' in Russia

RTÉ News​

time11-06-2025

  • Business
  • RTÉ News​

AerCap can recover over $1 billion, UK court rules in case over jets 'lost' in Russia

The world's largest aircraft lessor AerCap can recover over $1 billion in relation to jets stuck in Russia since the invasion of Ukraine, London's High Court ruled today, though that is less than the roughly $2 billion it sought. The court ruled broadly in favour of leasing companies in a multi-billion-dollar legal dispute with insurers, following a mammoth trial of one of the biggest insurance disputes ever heard in London which concluded in February. The lawsuit had focused on almost 150 jets and some engines, previously with a total value of up to $4.7 billion, though settlements - including on the first day of the trial in October - have whittled the numbers down. Judge Christopher Butcher said in a summary of his ruling that the aircraft were lost and "that loss occurred on 10 March 2022, when a piece of Russian legislation banned the export of aircraft and aircraft equipment from Russia". That meant the lessors could recover from their "war risks insurers", rather than under a broader all risks clause, as the cause of the loss was "an act or order of the Russian government", Butcher said. The judge also ruled that insurers were not prevented by EU or US sanctions from indemnifying the claimants for the loss of aircraft which had been leased to Russian airlines. AerCap's law firm Herbert Smith Freehills Kramer said the judgment secured $1.035 billion for AerCap, "in addition to substantial recoveries achieved in prior settlements". The $1.035 billion sum is, however, less than AerCap's claimed losses of over $2 billion had it been able to recover under its all risks policy. Butcher said in his ruling that Dublin-based AerCap had received just over $1.3 billion from six settlements between August and December 2023 with lessees and a Russian insurance company. AerCap, Dubai Aerospace Enterprise (DAE), Merx Aviation, KDAC Aviation Finance, Falcon and Genesis had led the claims against a string of insurers, including AIG, Lloyd's, Chubb and Swiss Re. KDAC settled all its claims during the trial, Butcher said in his ruling, while AerCap, DAE and other lessors have periodically disclosed partial settlements.

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