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Hundreds of leased planes held hostage in Russia
Monday, 17 Mar, 2022
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More than 500 leased jets worth about $10 billion are in the possession of Russian airlines with aircraft lessors unable to-do anything about it. Many lessors are resigned to waiting out the conflict and hoping sanctions are quickly lifted.
The European Commission is working with regulatory agencies to get the aircraft back but with no international flights out of Russia the chance of repossessing planes is virtually zero.
Almost all the few planes that have been returned to lessors were outside Russia when airspace was closed.
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