Insurers are playing “pass the liability parcel” in a desperate fight against multi-billion dollar claims over aircraft stranded in Russia since the invasion of Ukraine two years ago, lawyers for aviation lessors told a London trial on Wednesday.
Mark Howard, a lawyer for the world’s largest aircraft lessor AerCap, told the first day of a keenly anticipated trial that insurers must know there was no realistic prospect that Western-owned jets and engines would be returned.
“The reality is … that the aircraft and engines are lost,” he said.
In one of the largest insurance disputes