Dubai Aerospace Enterprise (DAE) has announced it recently secured approximately US$282 million in cash settlements from selected insurance companies relating to aircraft formerly leased to airline operators in the Russia. These aircraft became subject to international leasing disputes following the imposition of global sanctions and the grounding of foreign-owned aircraft in Russia after the onset of the Ukraine conflict.
The settlements are part of ongoing efforts by DAE and its affiliated entities to recover losses incurred after the termination of lease agreements in the region. As part of this process, DAE has agreed to release its claims against the settling insurance and reinsurance companies. With the latest settlements, DAE’s cumulative cash proceeds have now reached approximately US$601 million, including previous settlements announced in 2023 and earlier in 2024.
Despite these recoveries, DAE confirmed that it will continue to pursue litigation in the English courts under its own insurance policies to recover additional losses. The firm also stated that it remains committed to further mitigating the financial impact related to aircraft previously leased to Russian airlines. This includes ongoing claims against other insurers and reinsurers who have not yet reached settlement agreements.
DAE, one of the world’s largest aircraft leasing companies, was significantly affected by the fallout from the Russia–Ukraine conflict, which left dozens of aircraft stranded in Russia and prompted a wave of legal actions across the leasing sector. The company’s strategy of negotiated settlements combined with active litigation underscores its continued focus on asset recovery and financial resilience amid a complex geopolitical environment.
