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Dubai Aerospace Files Insurance Claims of $1B for Aircraft Stranded in Russia

The Middle East’s biggest plane-leasing firm wrote off half-a-billion dollars for aircraft stranded in Russia, after the Kremlin issued a law preventing foreign-owned jets from leaving the country without state permission.

Dubai Aerospace Enterprise booked a $538 million write-off for planes with airlines in Russia, it said in a statement on Friday. The company also filed insurance claims of $1 billion and said this figure may rise.

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