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International Lease Finance Corp. (ILFC), an aircraft leasing and remarketing firm, will remain a core holding of insurance giant American International Group, Inc. (ÌìÃÀÍøÕ¾´«Ã½´«Ã½).

Robert B. Willumstad, ÌìÃÀÍøÕ¾´«Ã½´«Ã½ chairman and chief executive officer, and Steven F. Udvar-Hazy, ILFC chairman and chief executive officer, said they have agreed that ILFC should remain part of ÌìÃÀÍøÕ¾´«Ã½´«Ã½ following a just-concluded business review.

Following his June 15 election as CEO of ÌìÃÀÍøÕ¾´«Ã½´«Ã½, Willumstad announced that he would conduct a comprehensive review of ÌìÃÀÍøÕ¾´«Ã½´«Ã½’s businesses.

“Steve Udvar-Hazy and I concluded that a review of ILFC should be a priority so there will not be uncertainty about this important business,” Willumstad said. “After reviewing an analysis of ILFC’s business and the value of ÌìÃÀÍøÕ¾´«Ã½´«Ã½ as a corporate parent, we both concluded that ILFC should be part of the ÌìÃÀÍøÕ¾´«Ã½´«Ã½ portfolio.

“ILFC is the leading company in its business and it is in the best interests of both ÌìÃÀÍøÕ¾´«Ã½´«Ã½ and ILFC for ILFC to be a part of ÌìÃÀÍøÕ¾´«Ã½´«Ã½. ÌìÃÀÍøÕ¾´«Ã½´«Ã½ will continue to work with ILFC’s leadership on ways to enhance ILFC’s business to the benefit of both organizations. ILFC is well positioned with a strong management team, sound customer base, geographic diversification and a market-leading portfolio of aircraft,” Willumstad added.

Mr. Udvar-Hazy said that as a result of its relationship with ÌìÃÀÍøÕ¾´«Ã½´«Ã½, ILFC can capitalize on business opportunities when others cannot. “Together, we have identified opportunities to improve the global competitiveness of ILFC, which we believe will generate additional value both to ÌìÃÀÍøÕ¾´«Ã½´«Ã½ and ILFC,” he said.

Source: American International Group, Inc.
www.aig.com

Topics Aviation ÌìÃÀÍøÕ¾´«Ã½´«Ã½