1 FEBRUARY 2010

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Article from BTNews 1 FEBRUARY 2010

ILFC not for sale

ILFC (International Lease Finance Corporation) is not for sale according to a report in the London Financial Times.  Owner, insurance group AIG, now US government controlled after a bailout, has decided against a sale of its aircraft leasing unit after concluding it would not reap a big enough profit from the divestment of one of its crown jewels.  The world’s largest aircraft leasing company was co-founded in 1973 by Hungarian uprising refugee Steven Udvar-Hazy.  It has been part of AIG since 1990, has a portfolio of around 1,000 aircraft, and is a major customer of both Airbus and Boeing.  Udyar-Hazy, who stepped down as Chairman in December, is reported to be ready to sever ties with the company where he is still CEO. www.ilfc.com

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