Avolon readies for disruptions in aircraft payments from any Russia sanctions -CEO

© Reuters.

By Aradhana Aravindan

SINGAPORE (Reuters) – Major aircraft lessor Avolon is gearing to tackle possible disruptions to business with Russia and is concerned about whether sanctions against the country would affect international payment transfers, its chief executive said on Tuesday.

U.S. officials have warned that Moscow could launch an attack on Ukraine after massing more than 100,000 troops close to its neighbour’s border, with the West preparing heavy sanctions.

Avolon is focused on ensuring that airlines flying over the region are fully insured from a risk-management perspective, Chief Executive Domhnal Slattery told Reuters on the sidelines of the Singapore Airshow.

If sanctions are slapped on Russia, he added, “My biggest concern is the sanctions are on SWIFT, so international payment transfers.”

“So we’re focused on ensuring how do we get around that from the payment of our rentals perspective,” Slattery said.

Privately held Avolon has fewer than 20 airplanes in Russia and one or two in Ukraine, out of a total fleet of more than 550 aircraft, Slattery said.

The company is working with a customer in Ukraine to relocate the aircraft to a more neutral territory, but is waiting to see how the situation develops before deciding whether to move its planes out of Russia.

“A bad situation in Ukraine is not good for anybody,” Slattery added.

Avolon readies for disruptions in aircraft payments from any Russia sanctions -CEO

Disclaimer:Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

What's your reaction?

In Love
Not Sure

You may also like

Leave a reply

Your email address will not be published.

More in:News