Western insurers on Tuesday lost a London High Court bid to appeal against a judgment that hands aircraft lessors $1.0 billion-plus from their war risks insurance policies to cover the loss of jets stuck in Russia since the invasion of Ukraine.
Judge Christopher Butcher told the court he was refusing permission to appeal on all grounds but would reach a final decision in relation to who bears which legal costs at a later date.
Butcher in June ruled that aircraft lessors such as AerCap, which were suing insurers for billions of dollars over the loss