Insurance companies removed coverage for Ukraine-based airlines due to the concerns and threats surrounding the Russian invasion of Ukraine.
Since then, aircrafts have been sent to other countries to store for safety and insurers have been removing as much coverage as they possibly can.
A spokesman from Ukraine International Airlines made the following statement. “[Ukraine International Airlines] is making efforts and is constantly negotiating with insurance companies, the Ministry of Infrastructure of Ukraine, and the State Aviation Service, and hopes for mutual understanding.”
The government in Ukraine pledged over $500 million to cover guarantees for insurance companies, leasing groups, etc. in the woke of the risk. However that is still not enough hope for them, as they are making every move they can to remove themselves from all of the risk associated with the invasion.
These moves come after a Ukrainian plane was shot down by a missile that was alleged to come from Russia. They have not accepted any association or responsibility for this attack, and declined to make any further comment.