Hundreds of Planes Are Stranded in Russia. They May Never Be Recovered.
Summary
While a few planes may have been recovered abroad before international flights were halted, they are of little use to their owners without the meticulous maintenance records that accompany every aircraft and are often stored by airlines themselves, experts said. And the longer a plane is stuck in Russia, the greater the concern that work on the jet’s body, engines and flight systems may not be logged, causing its value to plummet. “Unless you have those records, the aircraft is virtually worthless,” said Quentin Brasie, the founder and chief executive of ACI Aviation Consulting. Such aircraft are financed in a variety of ways, including funding from banks, leasing companies themselves, and investors in securitized debt. Aviation war insurers, in particular, are concerned and facing their biggest potential losses since the Sept. 11 terrorist attacks, according to Russell Group, a data and analytics company.
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