Aviation case studies
EasyJet – the quintessential low-cost airline founded by Stelios Haji- Ioannou in March 1995. Initially easyJet leased in two B737-200 aircraft from GB Airways on an ACMI basis and we covered the “load liability”. In due course easyJet flourished and acquired the capacity to operate its own aircraft, at which point we covered them for the full range of aviation market risks – Hull, Liabilities, Hull War and Hull Deductible. Eventually we waved them off to a new home as they outgrew us.
KD Avia – originally a bankrupt state carrier in the Russian Baltic enclave of Kaliningrad, KD Avia had been operating Soviet era Tu134 and Tu154 aircraft. In 2005 they acquired their first western built aircraft, B737-300s. We worked closely with the domestic policy-issuing company Ingosstrakh together with the various different lessors and successfully saw them through their fleet development programme from 1 to 19 aircraft. In this instance we developed an entirely new method of meeting lessor’s concerns without infringing the Russian insurance requirements for a local policy. We understand that this development is now widely copied by other larger brokers who initially said it could not work.
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