Hundreds of foreign-owned aircraft could be seized by the Russian government.
Russian state media outlet TASS reported that President Putin had enacted legislation for the Russian government to seize foreign leased aircraft and re-register them as locally owned assets.
The announcement after EU revoked the licenses of hundreds of aircraft leased to Russian operators in accordance with the international sanctions regime.
The impending seizure of hundreds of foreign-owned aircraft, an event of unprecedented scale, portends potential financial calamity for many lessors.
The Irish Times reports that AerCap, a major Dublin-based lessor, alone now faces grave uncertainty over the status of more than 150 aircraft worth some $2.3 billion.