Tags: AIG | aircraft | AerCap | leasing

AIG in Talks to Sell ILFC to AerCap Holdings

Thursday, 12 Dec 2013 01:36 PM

 

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Insurer American International Group is in talks to sell its jet-leasing finance business to AerCap Holdings NV, Bloomberg reported, citing people with knowledge of the matter.

Netherlands-based AerCap, the world's largest independent aircraft lessor, may team up with other bidders for International Lease Finance Corp.

AIG has not formally terminated its agreement with the Chinese group that agreed last year to buy a majority of ILFC for about $4.2 billion, Bloomberg reported.

AIG declined to comment on the report.

Chief Executive Robert Benmosche said in November that AIG hoped to decide on a sale or an initial public offering of ILFC in the fourth quarter.

AIG said in December 2012 that it had reached an agreement to sell a stake of up to 90 percent of California-based ILFC to a consortium of investors, based mainly in China, for $4.7 billion.

ILFC is one of the biggest aircraft lessors in the world, but has recorded big write-downs in recent years on the value of the older planes in its fleet.

© 2014 Thomson/Reuters. All rights reserved.

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