Rossiya has successfully resolved the dispute with GA Telesis regarding two A319 aircraft. This resolution marks a positive outcome for both parties involved. We are pleased to have reached an agreement that ensures a mutually beneficial solution. We remain committed to maintaining positive and productive relationships with all our business partners.
The Russian insurer NSK has settled a claim by GA Telesis for the loss of two Airbus narrow bodies and their engines, which were on lease to Rossiya (FV, St. Petersburg) when Russia invaded Ukraine. They remained stranded in Russia and have been subsequently re-registered. Rossiya is a sister carrier to the majority state-owned Aeroflot (SU, Moscow Sheremetyevo).
Details of Settlement
GA Telesis confirmed the payment (but not the amount) in a December 21, 2023, statement. "Effective upon receipt of the insurance settlement proceeds from NSK, a Russian insurance company, the company released its claims against NSK, Aeroflot, Rossiya, and their international reinsurers with respect to the Aircraft and their installed aircraft engines, " the statement said. "The insurance settlements and receipt of the settlement proceeds were approved by the United States Treasury and are consistent with other applicable sanctions regimes."
Aircraft Details
Last year, a ch-aviation report revealed details of the two A319-100s placed at Rossiya by GA Telesis subsidiary, Gain Aircraft Ireland. Whilst not cited in last week's statement, the relevant aircraft are VQ-BCO (msn 3942) and VQ-BCP (msn 3998). Following the outbreak of hostilities in early 2022 and the imposition of sanctions against Russia, local authorities switched both aircraft to the Russian register and re-registered them as RA-73186 and RA-73216, respectively. Flight tracking sites reveal both remain in active service for Rossiya.
Other Settlements
The GA Telesis payment is part of a spate of late 2023 settlements between NSK and aircraft lessors. At or around the same time, the insurer has paid out and closed the book on a USD572 million claim from AerCap and a claim from Air Lease Corporation.
Summary
The conclusion of this settlement marks a significant milestone in addressing the repercussions of the conflict on aviation assets and reinforces the importance of risk management and insurance coverage in mitigating such unforeseen events within the industry.
(This article is sourced from ch-aviation.com curated by Thetransporteronline24)
