Attached files
file | filename |
---|---|
8-K - FORM 8-K - INTERNATIONAL LEASE FINANCE CORP | v55825e8vk.htm |
Exhibit 99.1
NEWS RELEASE
Contact: | Pamela S. Hendry Senior Vice President & Treasurer |
Century City, CA, April 13, 2010 American International Group, Inc. (AIG) and International
Lease Finance Corporation (ILFC) announced today that ILFC has entered into an agreement to sell a
portfolio of 53 aircraft for an aggregate purchase price of $1.987 billion to Macquarie Aerospace
Limited, an indirect subsidiary of Macquarie Group Limited.
Completions of the sales of aircraft in the portfolio are expected to occur over the remainder of
calendar 2010, subject to customary closing conditions. The sale will result in a change to the
average age of the remaining fleet, based on the ages at December 31, 2009, from 7.4 years to 7.6
years. The aggregate net book value of the portfolio at April 13, 2010, is $2.316 billion. Net
cash proceeds from the sale will be transferred as the individual aircraft are sold.
Alan Lund, ILFCs President and Chief Executive Officer, said, ILFCs ability to accomplish
significant aircraft sales, together with our recent successes in the financial markets, where ILFC
raised over $4 billion in new secured and unsecured financing, strongly demonstrates ILFCs ability
to generate liquidity and de-lever its balance sheet.
Robert H. Benmosche, AIG President and Chief Executive Officer, added, ILFC and AIG are confident
in the long term potential of ILFC as a leader in its marketplace. ILFC has a strong, deeply
experienced leadership team committed to our customers and the continued future success of the ILFC
franchise. ILFC and AIG have worked hard to enhance ILFCS long term potential, including its
funding requirements, and to manage its portfolio in the best interests of all ILFC
constituencies.
ILFC is the international market leader in the leasing and remarketing of advanced technology
commercial jet aircraft to airlines around the world. ILFC owns a portfolio consisting of
approximately 1,000 jet aircraft.
AIG is a leading international insurance organization with operations in more than 130 countries
and jurisdictions. 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 around the world. AIG
common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland
and Tokyo.