ILFC BACK AT THE AIRCRAFT ORDERING TABLE

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP January 24, 2011 14:51

ILFC BACK AT THE AIRCRAFT ORDERING TABLE

ILFC is gearing up to make its first aircraft order since 2007. The aircraft leasing unit of insurer American International Group is in active talks with aircraft manufacturers regarding a possible order this year in the region of 100 aircraft although the type is not yet known the leasing market is red hot at the moment and demand is increasing across the board from South East Asia and the Middle East with US airlines also looking to come to the table.

The financial crisis that caused the near-collapse of parent AIG also put a stop to ILFC growth. As it progressed through its government-backed restructuring, AIG made clear it did not consider ILFC a core asset and tried everything it could to sell off the brand without success. Although AIG remains committed to selling off ILFC when the time is right in the next few years, chairman Steve Miller said in December there was no logical buyer for the business at the price AIG thought it was worth. There has been talk of an IPO, perhaps as soon as this year but that story has faded for now.

ILFC did sell off $4.4 billion of debt to repay its portion of AIG’s taxpayer’s aid three years early in 2010, a clear sign that the road ahead is being opened for ILFC to be sold off in one shape or form.

In the fourth quarter 2010 ILFC entered into 56 aircraft leases, bringing the year’s total to 259 lease commitments. It placed 15 A319s, six A320s, four A321s, three A330s and one A340 and 25 737s, two 757s, one 767, one 777 and six 787s with a total of 26 customers in 18 countries during the quarter. “We had a very active fourth quarter, which has provided ILFC a strong run rate as we move forward in 2011,” said CEO Henri Courpron. “What I believe is very impressive is the geographic diversity represented by our customers. ILFC’s proven ability to place aircraft with airline operators around the world is further evidence of our abilities to offer an attractive range of aircraft and services.”

ILFC remains the leading lessor and a barometer for the industry, the going looks good when they are back at the ordering table.

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP January 24, 2011 14:51
Write a comment

No Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Only <a href="http://www.aviationnews-online.com/wp-login.php?redirect_to=http%3A%2F%2Fwww.aviationnews-online.com%2Feditorial-comment%2Filfc-back-at-the-aircraft-ordering-table%2F"> registered </a> users can comment.