Salem Radio Network News Sunday, May 29, 2022

Business

Air Lease chairman says pursuing insurance claims over Russia

DUBLIN (Reuters) – Air Lease Corp is pursuing “vigorous” insurance claims over jets stranded in Russia following changes in the law preventing their repossession, Steven Udvar-Hazy, founder and executive chairman of the U.S. lessor, told the Airline Economics conference.

It would have been difficult for the leasing industry to prepare for such a “once in a post-World War II event,” he said.

(Reporting by Padraic Halpin, editing by Tim Hepher)

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