Hong Kong media reported that since the Russia-Ukraine war,RussiaA large number of foreign civilian aircraft flying to Russia were seized, including 22 Chinese-funded corporate aircraft. Among them, the affected BOC Aviation announced that it had reached an agreement and voluntarily settled for US$208 million. This news sparked heated discussion on the internet.
Hong Kong Economic Daily reported today that following the outbreak of the Russia-Ukraine war, the West imposed comprehensive sanctions on the Russian civil aviation industry. Moscow later retaliated and seized more than 500 aircraft leased by foreign companies, 17 of which belonged to BOC Aviation and five to Airwork, a Chinese CNC machine tool giant, and Zhejiang Rifa Precision Machinery. Wholly owned subsidiary.
According to reports, these 22 aircraft have not been recovered since they were seized by Russia last year. The airworks suffered US$700 million of property damage and resulted in severe operating losses; BOC Aviation has entered into partnership with Russia.InsuranceThe company reached an insurance settlement agreement for eight NSK aircraft, received a payment of approximately US$208 million, and ceased claims against related Russian parties. As for other seized aircraft, BOC Leasing said it would continue to look for opportunities to recover the full value of all aircraft, but was unable to estimate the amount that could be recovered at this time.
It is reported that BOC Aviation was formerly known asSingaporeThe aircraft leasing company was acquired by the Bank of China in 2006 and became a wholly owned subsidiary of the Bank of China, a state-owned enterprise with state-owned enterprise qualification.
Since only US$208 million has been recovered in compensation for eight aircraft, and the other nine aircraft are still away, and it is expected that there may be no chance of recovering or receiving compensation, resulting in BOC Aviation is still incurring a loss of approximately US$600 million. ,
According to the report, many netizens expressed their disapproval or support for Russia’s seizure of Chinese civilian aircraft. Some commentators said that after Russia invaded Ukraine and suffered heavy losses due to Western sanctions, Russia “lost in the West and made up for it in the East” in order to balance with Chinese companies.
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