Dubai, U.A.E., 22 April 2025 – Dubai Aerospace Enterprise (DAE) Ltd (“DAE”) today announced that it had recently received cash proceeds totaling approximately US$282 million from settlements with selected insurance companies with respect to aircraft previously on lease to airline carriers in the Russian Federation. DAE and its relevant affiliated entities have released their claims against these insurance and reinsurance companies.
DAE has now received cumulative cash proceeds of US$601 million including settlements announced in 2023 and 2024 with various parties.
DAE will continue to actively pursue its litigation in the English courts under its own insurance policies. DAE will also continue its efforts to seek to mitigate its losses in respect of its aircraft that were previously leased to airline carriers in the Russian Federation.
Posted by : DubaiPRNetwork.com Editorial Team Viewed 5150 times PR Category :Travel, Tourism, Airline and Hotel Posted on : Tuesday, April 22, 2025 12:23:00 PM UAE local time (GMT+4)
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