DUBLIN, Sept 6 (Reuters) - The world's largest aircraft lessor has agreed to settle an insurance claim over Russia's refusal to return 17 jets leased to airline Aeroflot, a landmark agreement in a dispute over 400 Western planes stranded in the wake of the Ukraine invasion.
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Ireland-based AerCap (AER.N) in a stock market filing said it had received $645 million from insurance company NSK in full settlement of insurance claims in relation to 17 aircraft and five spare engines leased to state-controlled airline Aeroflot and its subsidiary Rossiya.
AerCap filed a $3.5 billion London lawsuit last year against AIG and Lloyd's over 141 aircraft and 29 aircraft engines it owned that were on lease to Russian airlines. A number of smaller lessors also have jets stuck in Russia, including SMBC Aviation Capital, which had 34.
AerCap said the amount of its claim against its all-risks insurers under "our contingent and possessed insurance policy" has been reduced to approximately $2.75 billion following the Aeroflot settlement