DAE Gets $282M Insurance Payout for Aircraft in Russia

Post by: Layla Badr

Photo: WAM

Dubai Aerospace Enterprise (DAE) shared some big news today. The company said it has received about $282 million in cash from some insurance companies. This money is for airplanes that DAE had leased (or rented) to airlines in Russia. These planes were stuck there because of recent global events.

DAE and some of its partner companies have now closed their cases with these insurance companies. This means they have agreed to take the money and not ask for anything more from those companies.

Stay informed with the latest news. Follow DXB News Network on WhatsApp Channel  

So far, DAE has received a total of $601 million in cash. This includes money from earlier deals made in 2023 and 2024 with different companies.

Even though DAE has made some progress, they are still working hard to recover more money. The company said it will keep going with its legal cases in the UK, and it will also keep trying to reduce the losses it faced from the planes it had rented out to Russian airlines.

In short, DAE is slowly getting back some of the money it lost, but the work is not over yet.

#trending #latest #DubaiAerospaceEnterprise #DAE #AircraftLeasing #InsuranceSettlement #RussianAirlines #AviationNews #AerospaceIndustry #LegalUpdate #AircraftRecovery #GlobalAviation #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworkdnn #bestnewschanneldubai #bestnewschannelUAE #bestnewschannelabudhabi #bestnewschannelajman #bestnewschannelofdubai #popularnewschanneldubai