AIG Plane Leasing Executive May Bid for Business

August 31, 2009

The head of the aircraft leasing company owned by the giant financial services company American International Group is reportedly talking about buying a part of the business. The aircraft leasing company has been up for sale for more than a year.

The Wall Street Journal reported Saturday that Steven Udvar-Hazy, a co-founder, chairman and CEO of International Lease Finance Corp., is in early discussions to purchase part of the leasing finance unit’s portfolio and start a new company.

AIG is trying to sell assets to repay billions in federal loans that helped it avoid failing.

The leasing company has about 950 planes, making up the world’s second largest fleet.

AIG representatives could not immediately be reached for comment.

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