News
BOC Aviation receives settlement on eight aircraft stuck in Russia
November 13th 2023
BOC Aviation said it had received a US$208 million cash settlement from a Russian insurance company, Insurance Company NSK, related to eight of its aircraft detained in Russia and formerly leased to Russia-based Pobeda Airlines. Read More » The company said it had "released its claims against NSK, Pobeda and other relevant parties in Russia" with respect to those eight aircraft. "The insurance settlement and receipt of the settlement proceeds are consistent with all applicable sanctions regimes," BOC Aviation said in a regulatory filing. "The company will continue to pursue all opportunities for the recovery of the full value of all aircraft detained in Russia from all available sources but is unable at present to ascribe a value to any such potential future recovery."
