Aircastle CEO sees contested insurance talks over Russia jets

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DUBLIN (Reuters) – U.S. aircraft lessor Aircastle is bracing for tough discussions with insurers over aircraft it cannot recover from Russia, the chief executive of the Marubeni Corp and Mizuho Leasing Co Ltd owned company said on Tuesday.

“Mentally we’re moving past it… That doesn’t mean our teams aren’t still working and chasing, preparing for what we expect to be contested discussions with our insurance carriers,” Michael Inglese told the Airline Economics conference in Dublin.

The chief executive of Ireland’s Genesis, Karl Griffin, told the same conference that it was one of the first lessors to renew its insurance after Western sanctions terminated all Russian leases, and that it was “not a pretty sight.”

(Reporting by Padraic Halpin, Editing by Tim Hepher)