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Investing.com – Shares of AerCap (NYSE:AER), the world’s biggest aircraft leasing firm, HSBC (NYSE:HSBC) and several other companies were trading sharply lower Monday because of the potential impact on their businesses in the wake of the Russia-Ukraine conflict.
AerCap traded 6.07% down in premarket, while HSBC ADRs were lower by 5.8%.
AerCap Holdings, the world’s biggest plane lessor, with about 5% of its fleet leased to Russian airlines, said it will halt leasing to Russia. The company had bought General Electric’s aircraft leasing unit, GE Capital Aviation Services, last year in a deal worth $30 billion. The deal gave GE 46% ownership of the merged company.
HSBC will also wind down relations with a host of Russian banks, including VTB, the country’s second-largest and one of those targeted by European and American sanctions, Reuters said.
United Parcel Service (NYSE:UPS) and FedEx (NYSE:FDX) were down around 1% each after they decided to halt deliveries to Russia and Ukraine.
Finnair (HE:FIA1S) lost a fifth of its value in Helsinki after withdrawing guidance for 2022 due to the potential closure of the Russian airspace. Another Finnish firm, Nokian (HE:TYRES), also lost more than a fifth of its value. Last week, the company dropped its guidance and said it is shifting some production to its home country from Russia.
