An aircraft-leasing company says it will write off $800 million worth of jets stuck in Russia amid s

[Yo_Mama_Been_Loggin]

sanctions

An American aircraft-leasing company said it will write off the value of dozens of its jets stuck in Russia, per Reuters.

According to the outlet, Air Lease Corporation had 27 jets stranded in Russia after Western-imposed sanctions kicked in, following Russia's invasion of Ukraine.

The write-off is expected to cost the company $802 million.

"It is unlikely that the company will regain possession of the aircraft that have not been returned and that remain in Russia," Air Lease said in a statement, per the outlet.

https://www.msn.com/en-us/money/companies/an-aircraft-leasing-company-says-it-will-write-off-dollar800-million-worth-of-jets-stuck-in-russia-amid-sanctions/ar-AAWw20u

Thanks for the planes - Vlady Pooty Poot

[orwell]

1. If only there was some fund...

...where they could sue to get get their 800 million back.

Just sayin'...

[Make7]

2. I don't think the Russian airline industry can ever recover from this.

By Russia essentially stealing planes that they were leasing, they have likely guaranteed that no company in the world will ever lease planes to any Russian entity ever again. (I believe over half of their operating commercial fleet consists of foreign owned leased aircraft.)

To maintain the previously leased aircraft and have them certified airworthy, their industry would need replacement parts from the manufacturers - which they aren't going to be able to get while sanctions remain. So no chance of international flights to most countries for planes with questionable airworthiness - even if air travel restrictions were lifted.

So the Russian airline industry will depend on domestic travel to survive without a customer base that can afford travel often enough to sustain industry expenditures on a fleet dwindling in numbers due to lack of certified replacement parts (I doubt their domestic aircraft manufacturers would be able to make the needed parts - certainly not without causing significant safety risks.)

[Pas-de-Calais]

3. Imagine being able to write off $800m

[msongs]

4. made possible by our congress who writes tax laws nt