AerCap Holdings, the aircraft leasing giant that is the world's largest owner of jets, lost 113 planes when Russia seized them in response to sanctions triggered by the war in Ukraine.
The seizures of the planes and 11 jet engines by Russian authorities caused AerCap to take a $2.7 billion pre-tax charge during the quarter, causing the company to report a net loss of $2 billion rather than the $500 million profit it would have made without the hit. But company executives said the quarter was actually a good one and they see better times ahead as global demand for flying continues to recover from the Covid pandemic.
"Read MoreThe company owns a total of 1,624 aircraft, far more than owned or operated any single airline. The jets lost to Russia represented less than 5% of the net value of Aercap's fleet, which grew larger during the pandemic by purchasing rival leasing firm GECAS from General Electric .Aercap should easily ride out the financial loss of the jets, said Richard Aboulafia, managing director with AeroDynamic Advisory.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Civilians -- plus two anxious meerkats -- endure searches and shelling as they flee Russia-occupied KhersonEvery day, hundreds, or even thousands, of people are trying to flee the Russian-occupied region of Kherson in southern Ukraine, gathering up whatever they can cram into their cars, or even piling onto tractors.
Baca lebih lajut »
Russia may boost platinum market as automakers switch from palladium, WPIC saysAutomakers are accelerating efforts to use less palladium and more platinum due to worries over palladium supply from Russia, the World Platinum Investment Council (WPIC) said on Monday, predicting a large surplus in the platinum market this year.
Baca lebih lajut »
Lawyer charged with lying to FBI in Russia probe faces trialA federal trial is set to begin for a lawyer for the Hillary Clinton presidential campaign
Baca lebih lajut »
Russia Be Damned, Finland Officially Applies to Join NATOVladimir Putin had warned the Nordic nation not to join the military alliance but on Sunday they said they will go ahead anyway.
Baca lebih lajut »
Live blog: Ukraine restarts gas supplies after gains in Kharkiv over RussiaAfter Russia shocked the world by entering Ukraine, its military faces a bogged-down conflict – now in its 82nd day – the prospect of a bigger NATO, and an opponent buoyed by wins on and off the battlefield.
Baca lebih lajut »