Avolon, the aircraft leasing company headquartered in Dublin 4, has initiated legal proceedings against Lloyd’s Insurance Ltd in the Irish High Court. Last May Avolon took a $304 million impairment related to ten of its planes which have been marooned in Russia since Putin invaded Ukraine on February 24, 2022. Commenting on the decision, the then chief executive of Avolon, Dómhnall Slattery said: “While we continue to make every effort to recover these assets and are pleased to have repossessed four aircraft, we are recognising the full impairment this quarter, putting the financial impact of Russian sanctions firmly behind us.”…

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