![]() BOC Aviation was also entitled to immediately repossess the aircraft under the terms of the Cape Town Convention, which protects the rights of aircraft owners.īOC Aviation terminated the aircraft leases to AirBridgeCargo and demanded the immediate return of all aircraft with all necessary records.ĪirBridgeCargo, however, refused to recognise the termination of the leases. The cancellation of the reinsurance triggered a default under a provision of the parties’ lease agreement, giving BOC Aviation authority to immediately repossess all the aircraft and waiving AirBridgeCargo’s rights to a hearing prior to the repossession. ![]() The measures restrict Russian carriers from performing their aircraft lease and finance obligations and prohibit EU insurers from providing insurance or reinsurance of aircraft operated by Russian carriers. ![]() This was in line with sanctions imposed by the European Union on February 25 in protest against Russia’s invasion of Ukraine. Leased by BOC Aviation to AirBridgeCargo, were cancelled on March 7 by Lloyd’s Aviation Underwriters Association. The fall-out from the Russian invasion of Ukraine has made its way to the US District Court in New York where Singapore-based lessor BOC Aviation has laid a complaint against Russia’s AirBridgeCargo (RU, Ulyanovsk Vostochny) for the return of a leased B747-8F.īOC owns Bermuda-registered VQ-BFE (msn 60118), currently stored at Hong Kong International and leased to AirBridgeCargo since 2015, ch-aviation fleets advanced data reveals.Īccording to the court docket filed on March 14, hull war reinsurance covering VQ-BFE, as well two other B747-8Fs
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