AerCap (NYSE: AER) adds €112m to Ukraine conflict recoveries

Rhea-AI Filing Summary

AerCap Holdings N.V. reported receiving approximately €112 million in cash insurance settlement proceeds tied to eight aircraft formerly leased to Russian airlines AirBridgeCargo Airlines LLC and Atran LLC as of February 2022. The payment came from Russian insurer Insurance Company NSK.

Upon receipt, AerCap released its claims against NSK and the Russian airlines’ international reinsurers for these eight aircraft. The settlements were approved by the U.S. Department of Commerce and the U.S. Department of the Treasury and align with applicable sanctions regimes. These proceeds increase AerCap’s total recoveries related to the Ukraine Conflict to about $2.6 billion, while negotiations on other Russian airline insurance claims continue with no assurance of further recoveries.

Insights

Aviation finance analyst

AerCap secures €112m cash recovery from Russian insurance claims.

AerCap has obtained approximately €112 million in insurance proceeds for eight aircraft formerly leased to Russian carriers, lifting total Ukraine Conflict-related recoveries to about $2.6 billion. This adds fully realized cash against previously impaired Russian exposure.

The company has also released claims against the Russian insurer and international reinsurers for these specific aircraft, with approvals from U.S. authorities confirming consistency with sanctions regimes. This reduces legal and enforcement uncertainty around that subset of assets.

Discussions on remaining Russian airline insurance claims are ongoing, and the text emphasizes that further settlements and amounts are uncertain. Subsequent company filings may detail whether additional approvals and funding are secured for any further recoveries.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2025 Commission File Number 001-33159

AERCAP HOLDINGS N.V.

(Translation of Registrant’s Name into English)

AerCap House, 65 St. Stephen’s Green, Dublin D02 YX20, Ireland, +353 1 819 2010

(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒ Form 40-F  ☐

Other Events

This week AerCap Holdings N.V. (“AerCap” or “we”) received cash insurance settlement proceeds in the total amount of approximately €112 million in full settlement of our insurance claims under the respective insurance policies of AirBridgeCargo Airlines LLC and Atran LLC, in respect of eight aircraft owned by AerCap group entities and formerly leased to these Russian airlines as of February 2022.  Effective upon receipt of these insurance settlement proceeds from Limited Liability Company “Insurance Company NSK” (“NSK”), a Russian insurance company, we have released our claims against NSK and these Russian airlines’ international reinsurers with respect to these eight aircraft.  These insurance settlements and the receipt of the settlement proceeds were approved by the U.S. Department of Commerce and the U.S. Department of the Treasury and are consistent with other applicable sanctions regimes.

These insurance settlement proceeds bring our total recoveries relating to the Ukraine Conflict to date to approximately $2.6 billion.

While insurance settlement discussions are ongoing with respect to some of our claims under the insurance policies of other Russian airlines, it is uncertain whether any of these discussions will result in any insurance settlement or receipt of insurance settlement proceeds and, if so, in what amount.  In particular, it remains uncertain whether the necessary approvals and funding to complete any such further insurance settlements can be obtained.

The information contained in this Form 6-K is incorporated by reference into AerCap’s Form F-3 Registration Statement, File No. 333-282733, and Form S-8 Registration Statements, File Nos. 333-194638, 333-194637, 333-180323, 333-165839 and 333-154416, and related Prospectuses, as such Registration Statements and Prospectuses may be amended from time to time.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	AERCAP HOLDINGS N.V.
	By:	/s/ Aengus Kelly
		Name:	Aengus Kelly
		Title:	Authorized Signatory

Date: August 8, 2025

FAQ

What insurance settlement did AerCap (AER) receive from Russian-related claims?

AerCap received approximately €112 million in cash insurance settlement proceeds from Russian insurer NSK. The payment relates to eight aircraft formerly leased to AirBridgeCargo Airlines LLC and Atran LLC as of February 2022, converting part of AerCap’s Russia-linked exposure into realized cash recovery.

How much has AerCap (AER) recovered in total from the Ukraine Conflict?

AerCap reports total recoveries of about $2.6 billion related to the Ukraine Conflict. This figure includes the newly received €112 million settlement and prior recoveries tied to aircraft and claims affected by Russia-related sanctions and the broader conflict environment.

Which aircraft and airlines are covered by AerCap’s latest insurance settlement?

The latest settlement covers eight aircraft owned by AerCap group entities that were formerly leased to Russian airlines AirBridgeCargo Airlines LLC and Atran LLC as of February 2022. These aircraft are specifically referenced in the settlement with insurer NSK and associated reinsurers.

What legal or claims releases did AerCap agree to in this settlement?

Effective upon receipt of the €112 million, AerCap released its claims against Insurance Company NSK and the involved Russian airlines’ international reinsurers for the eight covered aircraft. This narrows AerCap’s outstanding dispute scope related to those specific assets and counterparties.

Were AerCap’s Russian insurance settlements approved under sanctions rules?

Yes. The insurance settlements and receipt of proceeds were approved by the U.S. Department of Commerce and the U.S. Department of the Treasury. AerCap states that the arrangements are consistent with other applicable sanctions regimes governing transactions linked to Russian entities.

Does AerCap expect additional insurance settlements from other Russian airlines?

AerCap is still in insurance settlement discussions concerning claims under policies of other Russian airlines. However, it cautions that there is uncertainty about whether any further settlements will be reached, in what amounts, and whether necessary approvals and funding can be obtained.