Dublin-based aircraft lessor CDB Aviation has won a $24.5 million (€21.17 million) insurance payout over the loss of nine aircraft stranded in Russia following the invasion of Ukraine. It adds to around a quarter of a billion dollars in insurance settlements that CDB has already secured on the missing jets. Judgment was this week entered in favour of the lessor, a wholly-owned Irish subsidiary of China Development Bank, against insurer PICC, another Chinese state-backed entity. The court proceedings were part of a multi-jurisdictional billion-euro insurance litigation onslaught — involving some of the biggest aircraft lessors in the world including Avolon,…

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