Full coverage: Avolon

They say their insurance policies were meant to pay out in 90 days for aeroplanes lost by acts of war. Yet nearly a year after Russia's full-scale invasion of Ukraine, some of the world's largest aircraft lessors are fighting tooth and nail for compensation.

Last July SMBC Aviation wrote off $1.6 billion as 34 of its jets were marooned in Russia with little hope of recovery. It is now following a well-beaten path to the Irish High Court to pursue its claims against its insurers.

At a recent KPMG Dealmakers event, Andy Cronin, the new chief executive of Avolon, spoke about helping found, float, and take private the aviation leasing giant. He also talked about hiring, the highs and lows of a start-up, and the future of aviation.

The Irish aircraft leasing company has initiated proceedings against its insurers in the Irish High Court, after writing down ten planes marooned in Russia. The legal battle looks set to be long and complicated.

Domhnall Slattery founded Avolon in 2010 as his own "Phoenix from the flames" after the financial crisis hit his investment business hard. He is retiring from a company among the largest in the global aircraft leasing industry.

From bus fulls of Russian tourists to fast-track medical development and displays of military might, the tropical island hosting Avolon’s parent company has become a microcosm of China’s rise to international power.

He worked for Tony Ryan and Fred Goodwin, built a global aviation giant and lost a fortune in the crash. Avolon boss Domhnal Slattery talks about success, failure and his fears for the Irish economy.