CHICAGO (Reuters) - International Lease Finance Corp, the plane-leasing business owned by insurer American International Group <AIG.N>, will be sold to a group of investors and ILFC's management, Bloomberg reported on Saturday.
ILFC founder and Chief Executive Steven Udvar-Hazy told the news agency in an interview that the deal would close early next year.
ILFC, one of the biggest buyers of planes from Boeing Co <BA.N> and Airbus <EAD.PA>, did not immediately return a call seeking comment.
AIG, which suffered major losses on mortgage derivatives, is selling assets to repay a loan from the Federal Reserve. The outlook for ILFC has been clouded for months by the predicament of AIG.
The plane lessor relied on AIG's blue-chip credit rating for access to capital to buy planes. But when AIG's rating took a hit in September, ILFC was locked out of the debt market.
Bloomberg cited Udvar-Hazy as suggesting the unit had a value of about $10 billion. But the investors were not identified.
(Reporting by Kyle Peterson; Editing by Xavier Briand)
Publié le 22 novembre 2008 Copyright © 2008 Reuters
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