Wed, Jun 10, 2009
Cites Increased Demand From Airlines
International Lease Finance Corp. (ILFC), Airbus and Boeing's
biggest customer, said it will increase aircraft orders between 20
percent and 30 percent within the next 12 months to 18 months,
Chief Executive Officer Steven Udvar-Hazy said in an interview in
Kuala Lumpur on Monday. The boost is due to increasing demand from
airlines to replace older models.
"We are seeing a significant
replacement demand and fleet modernization demand in the next five
years," Udvar-Hazy (pictured right) said.
The aircraft leasing company, a unit of American International
Group, has about 1,000 jets placed with airlines around the world
and an additional 168 on order. Demand is growing, particularly in
the Asia-Pacific region, according to Airbus, and airlines globally
may buy 24,300 planes worth $2.8 trillion over the next two
decades.
According to Bloomberg News, two people familiar with the
situation said last week AIG plans to sell ILFC. A group of
investors, including Onex and Greenbriar Equity Group, has been
selected as the preferred bidder.
The private-equity firms are negotiating to acquire Los
Angeles-based ILFC and want to keep the company intact, said the
sources, who asked not to be namer because talks are private. Onex
and Greenbriar plan to keep ILFC founder and chief executive
Udvar-Hazy to run the firm, said one of the people.
"We're marching ahead to meet a transaction. We're highly
confident there will be a favorable transaction for all
constituents," Udvar-Hazy said. He declined to comment on the
preferred bidders and said the size of the deal will be "several
billions of dollars." The deal may be completed by year-end, he
said.
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