EasyJet Faces $72M London Lawsuit Over Six Abandoned Airbus Jets

EasyJet is facing a $72 million lawsuit in London's High Court filed by STLC Europe Eight over six Airbus planes, involving an asset dispute stemming from post-invasion sanctions. The litigation follows lease terminations initiated by the British carrier in 2022, setting up a legal clash over asset maintenance and European Union restrictions.

The lawsuit accuses easyJet of abandoning the aircraft at airports in Madrid and Cyprus while accumulating unpaid fees and failing to maintain the equipment. According to the Financial Times report cited in legal filings, the financial claims include at least $36.7 million in unpaid rent and interest, $32.5 million in lost aircraft value, and €2.8 million in accrued airport charges.

Lease Terminations and the Sanctions Dispute

The conflict centers on decisions made in April 2022, when easyJet informed its lessor that it was terminating the lease agreements. The airline argued that European Union sanctions prohibited the maintenance or repair of the jets.

STLC Europe Eight, an Irish subsidiary of Russian state-owned aircraft lessor GTLK Europe, disputes that reasoning. The lessor maintains that the sanctions did not apply because the aircraft remained outside Russia and the leasing company operated from Ireland.

Asset Recovery and Liquidation Proceedings

The legal action forms part of an asset recovery effort managed by liquidators. Ireland’s High Court ordered GTLK Europe and GTLK Europe Capital into liquidation on May 31, 2023, appointing liquidators to sell assets and repay creditors.

• Three of the disputed jets were stored at Larnaca International Airport in Cyprus, later recovered, and sold.
• The recovered Cyprus aircraft generated at least $32.5 million less than anticipated due to their deteriorated condition.
• The three remaining aircraft located in Madrid have not yet been sold.

What Is at Stake for Aviation Lessors

The case highlights ongoing financial liabilities for European carriers that severed ties with lessors tied to Russian entities following the invasion of Ukraine. As court-appointed liquidators pursue outstanding claims through international jurisdictions like the London High Court, the outcome could establish legal precedents regarding force majeure lease terminations and maintenance obligations under sanctions regimes.