RIFA PM: Due to 5 aircraft being detained in Russia, the subsidiary has filed a lawsuit against QBE Insurance and Aon NZ

RIFA PM announced that its wholly-owned subsidiary Airwork has filed a lawsuit against QBE Insurance Limited and Aon NZ in the Auckland High Court of New Zealand due to losses from leasing aircraft to the Russian client Aviastar. Airwork signed six B757-200 cargo aircraft leasing contracts with the Russian client, but the cooperation was terminated due to Western geopolitical conflicts, and five aircraft are still being held in Russia. Airwork and the insurance companies did not reach an agreement, thus choosing to pursue litigation to protect shareholder rights. The case has not yet been heard, and the impact on the company's current or future profits cannot be determined at this time