Lessor Avolon data $304 million impairment over Russian plane By Reuters

© Reuters. Avolon emblem is seen on this illustration taken, Could 1, 2022. REUTERS/Dado Ruvic/Illustration

DUBLIN (Reuters) – Main plane lessor Avolon recorded a first-quarter impairment of $304 million to cowl the total monetary impression of getting 10 jets caught in Russia following European Union sanctions that pressured the termination of all Russian leases.

The Irish firm mentioned on Tuesday that whereas it continues to make each effort to get well the planes having repossessed 4 plane earlier than the sanctions deadline, it diminished the carrying worth of the remaining plane to zero.

On account of the impairment, Avolon reported a internet lack of $182 million for the quarter however mentioned it delivered its strongest quarterly underlying efficiency because the onset of the COVID-19 pandemic two years in the past.

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