Lessor CDB collects insurance for four aircraft leased to Aeroflot

October 13th 2023

Print Friendly

China Development Bank Financial Leasing Co. said its 100% subsidiary, CDB Aviation Lease Finance Designated Activity Company (CDB Aviation), has received a 1.4 billion yuan (US$194 million) payout from insurance company, NSK, related to four aircraft previously leased to Aeroflot. Read More » "The insurance settlement and receipt of the settlement proceeds from NSK were carried out in full compliance with all applicable laws, sanctions and regulations,” CDB said. “CDB Aviation will continue to actively pursue its litigation in the Irish courts under its own insurance policies with other insurers. CDB Aviation also will continue its efforts to mitigate its losses in respect of its aircraft previously leased to other Russian airlines.”