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Air Lease (NYSE:AL) -4.9% post-market after disclosing Friday it can write off the worth of the 27 jets at the moment stranded in Russia, which it expects will lead to $802.4M of fees.
“It’s unlikely that the corporate will regain possession of the plane that haven’t been returned and that stay in Russia,” Air Lease (AL) mentioned in a Kind 8-Okay launched after the inventory market closed.
The corporate doesn’t count on the asset writeoff will lead to materials future money expenditures, and it mentioned it’s pursuing insurance coverage claims to get well losses.
The writeoff, which incorporates 21 company-owned jets and 6 plane within the firm’s managed fleet, will likely be mirrored within the Q1 earnings report.
Earlier this month, Air Lease (AL) broaden its portfolio with an order for 32 further Boeing 737-8 and 737-9 jets.
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