EasyJet Faces $72 Million Lawsuit Over Abandoned Russian-Leased Aircraft

EasyJet is facing a lawsuit seeking at least $72 million in damages over allegations it illegally abandoned six Airbus aircraft leased from a Russian state-owned company. The claim was filed in London's High Court by STLC Europe Eight, an Irish subsidiary of the Russian state-owned leasing firm GTLK Europe.

Details of the Claim

The lawsuit alleges that the British low-cost carrier left the aircraft at airports in Madrid, Spain, and Larnaca, Cyprus, without proper maintenance after terminating lease agreements in 2022. According to the court filing, this caused the aircraft to deteriorate in condition while incurring significant storage fees.

Sanctions at Center of Dispute

EasyJet notified the lessor in April 2022 that it was terminating the leases, citing European Union sanctions imposed on Russia. The airline claimed these sanctions made it impossible to perform maintenance or repairs on the aircraft.

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However, STLC disputes this justification, arguing in its claim that the sanctions were not applicable. The lessor contends that the aircraft were always located outside of Russia and that its operating entity, STLC Europe Eight, is registered in Ireland.

Financial Impact and Asset Status

The legal filing states that three of the planes, which were located at Larnaca International Airport in Cyprus, have since been recovered and sold. Due to their alleged poor condition, they were sold for at least $32.5 million less than their expected value.

The remaining three aircraft are still located in Madrid and have not yet been sold, according to the lawsuit. The total claim of at least $72 million reflects the alleged loss in value and other associated costs.