Stock Markets September 8, 2026 01:34 PM

EasyJet Faces £58m Suit Over Six Airbus Jets Left in Madrid and Cyprus

Irish lessor alleges carrier abandoned aircraft after terminating 2022 leases amid EU sanctions claims

By Nina Shah
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STLC Europe Eight, an Irish unit of Russian state-owned lessor GTLK Europe, has launched legal action in London seeking at least $72 million from EasyJet. The suit contends the airline left six leased Airbus jets at airports in Madrid and Larnaca without required maintenance after ending the leases in 2022. Three Cyprus-stored aircraft were recovered and sold at a substantial loss; three in Madrid remain unsold.

EasyJet Faces £58m Suit Over Six Airbus Jets Left in Madrid and Cyprus
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Key Points

  • STLC Europe Eight, an Irish subsidiary of GTLK Europe, is suing EasyJet for at least $72 million over six Airbus jets leased in 2022.
  • Three jets stored in Larnaca, Cyprus, were recovered and sold but produced at least $32.5 million less than expected due to deterioration; three aircraft in Madrid remain unsold.
  • The dispute hinges on whether EU sanctions justified EasyJet's cessation of maintenance; STLC argues the sanctions did not apply because the aircraft were outside Russia and the lessor is based in Ireland.

STLC Europe Eight, an Irish subsidiary of Russian state-owned aircraft lessor GTLK Europe, has filed a lawsuit in London's High Court seeking a minimum of $72 million from EasyJet, alleging the British budget carrier abandoned six Airbus jets after terminating lease agreements in 2022.

The complaint centers on claims that the aircraft were left at airports in Madrid and Larnaca, Cyprus, without appropriate maintenance while storage charges accumulated. According to the lessor's filing, EasyJet notified STLC in April 2022 that it was ending the lease arrangements on the six aircraft, citing European Union sanctions that, the carrier argued, prevented maintenance and repairs.

STLC contests EasyJet's explanation. The lessor argues the EU sanctions did not apply to these particular aircraft because they remained outside Russia and the leasing company operates from Ireland, and therefore, it disputes the carrier's rationale for ceasing upkeep and returning the jets.

Of the six aircraft at issue, three were kept at Larnaca International Airport in Cyprus and were subsequently recovered and sold by the lessor. STLC reports that those three planes fetched proceeds that were at least $32.5 million lower than expected due to deterioration in their condition. The remaining three aircraft, which are located in Madrid, have not been sold as of the time of the filing.

The legal action seeks at least $72 million in damages, reflecting STLC's assessment of losses tied to storage, maintenance shortfalls, sale proceeds below expectations, and related costs. The case will be heard in the High Court in London, where the lessor contends the carrier breached its lease obligations by abandoning the aircraft without arranging for required maintenance while they were in lessor custody.

At the core of the dispute is a disagreement over whether EU sanctions justified EasyJet's cessation of maintenance activities. STLC maintains the sanctions did not apply to the Irish lessor's assets located outside Russia, while EasyJet's position is that sanctions made maintenance or repairs infeasible. The three aircraft in Madrid remain unsold, and the lessor is seeking compensation through the court process.


Summary - STLC Europe Eight has sued EasyJet in London's High Court for at least $72 million, alleging the airline abandoned six leased Airbus jets in 2022 and failed to maintain them while in storage in Madrid and Cyprus. Three jets sold from Cyprus generated proceeds at least $32.5 million lower than expected; three in Madrid remain unsold.

Risks

  • Uncertainty over the applicability of EU sanctions could prolong litigation and affect recovery timelines for the lessor - impacts legal and aviation leasing sectors.
  • Potential additional financial losses if the three Madrid aircraft are sold below expectations or incur further deterioration - affects aircraft lessors and investor assessments of asset recovery.
  • Accumulating storage fees and unresolved disposition of the Madrid aircraft could increase costs for either party depending on court outcomes - relevant to airline balance sheets and lessor credit exposures.

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