AerCap (AER), the world’s largest aircraft leasing company, has secured the right to claim over $1 billion in insurance for aircraft stranded in Russia.
Insurance
Industry insiders suggest airlines may face a doubling of insurance premiums due to recent war-related losses, leaving them with no choice but to pay higher costs to protect against future damages.
Tata AIG General Insurance and other insurance companies have won the contract to insure the fleet of Air India and its subsidiary Air India Express for $10 billion. The airline will pay a $30 million (Rs 246 crore) premium for the fiscal year beginning April 1 – the same as in the previous fiscal year.