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Air Lease (NYSE:AL) -4.9% post-market after disclosing Friday it’ll write off the worth of the 27 jets at the moment stranded in Russia, which it expects will end in $802.4M of expenses.
“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) stated in a Type 8-Okay launched after the inventory market closed.
The corporate doesn’t count on the asset writeoff will end in materials future money expenditures, and it stated it’s pursuing insurance coverage claims to recuperate losses.
The writeoff, which incorporates 21 company-owned jets and 6 plane within the firm’s managed fleet, can be mirrored within the Q1 earnings report.
Earlier this month, Air Lease (AL) broaden its portfolio with an order for 32 extra Boeing 737-8 and 737-9 jets.
