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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 presently stranded in Russia, which it expects will end in $802.4M of costs.
“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 end in materials future money expenditures, and it mentioned it’s pursuing insurance coverage claims to get better losses.
The writeoff, which incorporates 21 company-owned jets and 6 plane within the firm’s managed fleet, shall be mirrored within the Q1 earnings report.
Earlier this month, Air Lease (AL) increase its portfolio with an order for 32 extra Boeing 737-8 and 737-9 jets.
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