AerCap Holdings, the aircraft leasing giant that is the world’s largest owner of jets, lost 113 planes when Russia seized them in response to sanctions triggered by the war in Ukraine.

The seizures of the planes and 11 jet engines by Russian authorities caused AerCap to take a $2.7 billion pre-tax charge during the quarter, causing the company to report a net loss of $2 billion, rather than the $500 million profit it would have made without the hit.

The company was able to recover 22 jets and three engines before they were seized by Russian authorities.

It has filed insurance claims to seek to recover the lost aircraft, although some of those claims are with Russian insurance companies. Those policies are backed by Western re-insurance companies, but AerCap stated that “the timing and amount of any recoveries under these policies are uncertain.”