Avolon loses $173m as it fails to secure return of airlcraft leased to Russian companies

Irish lessor Avolon lost €173 million in the first three months of the year after it could not get back aircraft leased to Russian airlines.

Chief executive Dómhnall Slattery said that while Avolon was making every effort to recover the planes, it accounted for their loss to put “the financial impact of Russian sanctions firmly behind us”. He pointed out that Avolon regarded the aircraft as been stolen because the Russian carriers that have kept the planes are not paying rent for them.

The Irish company recognised a total loss of $304 million against the 10 ’planes involved after reducing their value to zero on its books.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Zoan develops 3D-printed human bone grafts from locally grown coral | Business PostCompany to collaborate with Swedish company Cellink on groundbreaking new project using coral grown in Connemara, ChasTaylor reports.
Fuente: businessposthq - 🏆 8. / 71 Leer más »

Irish companies raise record $401 million in VC funding | Business PostIrish companies raised $401 million (€382 million) in venture capital investment across 25 deals in the January to March period, the highest value ever recorded in a first quarter.
Fuente: businessposthq - 🏆 8. / 71 Leer más »