ILFC pays of $2bn of debt mountain

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By admin October 8, 2010 10:55

ILFC pays of $2bn of debt mountain

AIG has also announced this week that ILFC has repaid a $2 billion revolving line of credit that was fully drawn in September 2008. The lessor has since generated $12.5 billion in liquidity through debt issuance and extensions and aircraft sales. It also repaid loans of $3.9 billion back to the Federal Reserve Bank of New York. Even though the lessor reports debt of $32.3 billion in its March 10k filing, it states that it is now self financing and will no longer rely on AIG for funds.

Steenland also stated that it was reassessing its order book in favour of more narrowbody aircraft, which it has yet to order. This has worked to the lessor’s favour, however, as now it can wait to see whether the aircraft manufacturers re-design the next generation narrowbody aircraft.

admin
By admin October 8, 2010 10:55
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