Dubai Aerospace Enterprise (DAE) has announced it recently secured approximately US$282 million in cash proceeds from settlements with selected insurance companies.
These settlements relate to aircraft that were previously leased to airline carriers in the Russian Federation.
The company, along with its affiliated entities, has now released all claims against the insurance and reinsurance companies involved in this latest round of settlements.
This brings DAE’s total recovery to US$601 million, following earlier settlements disclosed in 2023 and 2024.
Despite this progress, DAE confirmed it will continue pursuing ongoing litigation in the English courts under its existing insurance policies. The company also emphasized that it remains committed to mitigating losses related to aircraft formerly leased in Russia.
The settlements mark another step in DAE’s broader recovery strategy as it navigates the aftermath of disrupted leases tied to the geopolitical fallout in the region.
News Source: Emirates News Agency
