Aircastle to cease leasing to Russian airlines due to sanctions; 6% of fleet at risk

Aircastle LTD

EU, US, others imposed sanctions after Russia's Feb 24, 2022 invasion of Ukraine, including aircraft supply bans.
Aircastle intends to fully comply, requiring cessation of leasing activity with Russian airlines.
As of Nov 30, 2021, approx. 6% of fleet by net book value was on lease to Russian carriers.
Company cites risk factors for potential write-downs if customer defaults or market conditions worsen.
Sanctions include wind-down periods for existing aircraft and component supply to Russia.

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