Europe’s Leased Aircraft to Russia Cannot Be Returned: Sanctions Will Not Only Affect Russia

There are airlines in the world. They have aircraft. However, not all aircraft of airlines worldwide are owned; there are also leased planes. This was discussed by Facebook user Ruben Kirakosyan.

“The European Union has imposed sanctions against Russia and has obliged leasing companies (which are European leasing companies) to return all aircraft leased to Russia by March 28. I quote Phil Seymour, president of the European Leasing Companies Association:

• Return 520 aircraft, but how to do that? The Russians have stated that if you refuse the lease, then you take care of the matter yourselves. How to transport 520 crew members to Russia when the airspace of Russia, Belarus, and Ukraine is closed? Useful information for everyone: we cannot fly.
• As soon as the aircraft are transferred to Russian airports, they will cease to be Russian. However, non-Russian aircraft cannot fly in Russian airspace, which is closed. We cannot fly.
• Leasing companies act as initiators of lease termination. According to preliminary calculations of penalties, all of us are bankrupt. It is easier to go bankrupt than to seek advice. It is cheaper.
• February has passed, and Russia must pay the monthly leasing fees. Russia agrees but cannot pay because SWIFT is disconnected. We must pay penalties, but we have no money.
• Even if we take those aircraft, what do we do with them? We don’t need them, nobody needs them, and it's impossible to sell them,” he wrote.