AIG Posts Q4 Loss Due to Sale of Aircraft Leasing Unit

AIG has released its Q4 and 2012 results. For the quarter, the company posted a net loss of $4.0 billion ($2.68 per diluted share), a sharp drop from Q4 2011's profit of $21.5 billion ($11.31). That was largely due to the sale of International Lease Finance Corporation, an aircraft leasing subsidiary, for which the company booked a $4.4 billion loss. The quarter's results were also affected by $1.3 billion in after-tax losses, due to the destruction wrought by Hurricane Sandy.

On average, analysts were expecting a shortfall of $0.08 per share for Q4.

For the full year, the company's bottom line was a profit of $3.4 billion ($2.04 diluted EPS). This was down substantially from 2011's $20.6 billion ($11.01).

The article AIG Posts Q4 Loss Due to Sale of Aircraft Leasing Unit originally appeared on Fool.com.

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