Dubai Aerospace Enterprise (DAE) announced it has received $201 million in cash proceeds over the past three months from settlements with selected insurance companies related to aircraft previously leased to airline carriers in the Russian Federation.
DAE and its affiliated entities have released their claims against these insurance and reinsurance companies as part of the settlements, the company stated.
Including this latest settlement, DAE has now recovered a total of $319 million following a 2023 settlement involving seven aircraft.
DAE continues to pursue litigation in the English courts under its own insurance policies and remains focused on mitigating losses related to aircraft previously leased to Russian airlines.
