AIG has decided to retain its aircraft leasing business, International Lease Finance (ILFC), as it would not gain enough profit from its divestment.
ILFC is one of the largest aircraft leasing businesses, with more than 1,000 aircraft sold to AIG in 1990 by Steven Udvar-Hazy, ILFC’s co-founder, according to the Financial Times.
The decision will require the US insurer to keep funding the division either through cash resources or by debt financing. At present, it has injected $3.7bn into the business and pledged more funds as needed.
ILFC was one of the businesses AIG put on the block shortly after the first rescue in September 2008.
The credit crunch at the time prompted AIG to divest it in parts.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
