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International Lease Finance Corporation

Former US aircraft lessor

Summary

Former US aircraft lessor

Field	Value
name	International Lease Finance Corporation (ILFC)
logo	ILFC Logo.png
logo_size	100px
type	Division
foundation
location	Constellation Place
Los Angeles, California, U.S.
key_people	Henri Courpron, CEO
Fred Cromer, President
num_employees	290 (March 2013)
industry	Aircraft leasing and sales
revenue	US$4.73 billion (2007)
net_income	US$604 million (2007)
parent	AerCap

Los Angeles, California, U.S. Fred Cromer, President

Corporate headquarters, [[Constellation Place

The International Lease Finance Corporation (ILFC) was an aircraft lessor headquartered in the Constellation Place in Century City, Los Angeles, California, US.

It was the world's largest aircraft lessor by value, though ILFC's rival, General Electric's GECAS unit, had more aircraft. It leased Boeing and Airbus aircraft to major airlines worldwide.

History

Father and son team Leslie Gonda and Louis L. Gonda founded ILFC in 1973 along with Steven F. Udvar-Házy. The company was acquired by international insurance giant American International Group (AIG) in 1990, although the unit was still run by Udvar-Hazy until he retired in February 2010, when he was succeeded by vice-chairman Alan Lund. Henri Courpron, a former Airbus executive, was appointed president and CEO of ILFC in May 2010.

On September 2, 2011, AIG filed with the SEC to spin off ILFC in an initial public offering.

In December 2012, AIG announced that it was selling a 90% stake in the company to a consortium of Chinese companies consisting of New China Trust, New China Life Insurance, P3 Investments and the China Aviation Industrial Fund to raise funds to repay its US$182B government bailout.

In August 2013, two of the Chinese companies withdrew their involvement in the deal. AIG had given a deadline for the completion of the deal as August 31, 2013, and alternatives were considered, such as an initial public offering.

On December 16, 2013, AIG announced they were selling its entire stake in ILFC to AerCap Holdings N.V.

Headquarters

The ILFC was headquartered in Suite 3400 of the Constellation Place (formerly MGM Tower) in Century City, Los Angeles, California. ILFC has its headquarters on the top six floors of the building, with 290 employees as of March 2013. The CEO's penthouse office had a working fireplace.

References

(2010-05-19). "AIG Names Henri Courpron ILFC President and Chief Executive Officer".
(April 21, 2011). "ILFC Upsizes Committed Secured Loan to $1.5 Billion". ILFC.
(April 6, 2011). "ILFC Announces Commencement of Exchange Offer". ILFC.
(March 31, 2011). "ILFC Enters Into $1.3 Billion Committed Secured Loan with Right to Upsize: Diverse Group of Global Banks To Participate". ILFC.
(March 31, 2011). "ILFC Names Fred Cromer President". ILFC.
(March 9, 2011). "Cathay Pacific Airways to Lease Two A350s from ILFC". ILFC.
(March 8, 2011). "ILFC Orders Aircraft from Airbus and Boeing". ILFC.
(October 20, 2011). "ILFC Enters Into $2 Billion Committed Unsecured Credit Line – Action Continues Improved Funding Flexibility and Diversity". ILFC.
(January 26, 2011). "ILFC to Open Office in Europe Colin Bole Named SVP, Head of Europe, Middle East and Africa". ILFC.
Niles, Russ. (8 December 2012). "China Bids For Airliner Leasing Firm". AVweb.
(2013-08-21). "AFP: 2 Chinese funds exit deal to buy AIG's ILFC: source".
(2013-08-07). "AIG Extends Deadline On ILFC Sale". News.airwise.com.
"AIG sells International Lease Finance for $5.4 bln". MarketWatch.
"[http://www.ilfc.com/contact.htm Contact Us] {{webarchive. link. (2011-05-12 ." International Lease Finance Corporation. Retrieved May 6, 2011. "10250 Constellation Blvd. Suite 3400 Los Angeles, CA 90067 USA")
Leslie Wayne. (May 10, 2007). "The Real Owner of All Those Planes". [[The New York Times]].

Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

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