The Chinese lessor of BOC Aviation warned its shareholders and investors that in the period from January to June 2022, the company would incur losses of $ 330 million due to anti-Russian sanctions. This is stated on the company’s website.
“After the start of” special operation “in Ukraine in February 2022, the EU, the USA, Great Britain, Singapore and some other countries have imposed sanctions that affected our commercial activities in Russia,” the company noted.
There they also added that in March, BOC Aviation was forced to terminate the contracts with airlines from Russia for renting 18 aircraft due to sanctions. Moreover, 17 of them are still in Russia. BOC Aviation indicated that the organization decided to reduce the balance cost of these 17 aircraft from $ 803.6 million to zero. Pure damage from this will be a little more than $ 580 million, but it will be compensated by a pledge of $ 222.9 million