ILFC and American Airlines Complete 15 Aircraft Sale-Leaseback Deliveries
LOS ANGELES--(BUSINESS WIRE)-- International Lease Finance Corporation (ILFC), a wholly owned subsidiary of American International Group, Inc. (NYS: AIG) , announced today the final delivery of an American Airlines 737-800 as part of a 15-aircraft sale-leaseback program.
The agreement provided for 15 previously ordered Boeing 737-800 Next Generation aircraft to be purchased by ILFC from American and immediately leased back to American under a sale-leaseback financing arrangement. The program began in November of 2011 and the fifteenth aircraft in the transaction delivered on November 14, 2012.
ILFC Chief Executive Officer Henri Courpron commented, "ILFC was pleased with this sale-leaseback arrangement with American and views this transaction as an important achievement in the execution of our strategy to increase ILFC's market share in the Americas. American was able to execute on its fleet strategy and ILFC strengthened its relationship with a valuable customer."
ILFC, a wholly owned subsidiary of American International Group, Inc., is the world's largest independent aircraft lessor measured by number of owned aircraft. ILFC's portfolio consists of over 1,000 owned or managed aircraft, as well as commitments to purchase 233 new high-demand, fuel-efficient aircraft and rights to purchase an additional 50 such aircraft. www.ilfc.com
American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
Paul Thibeau, +1-310-788-1999
KEYWORDS: United States North America California
The article ILFC and American Airlines Complete 15 Aircraft Sale-Leaseback Deliveries originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.