TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

AIG selling aircraft leasing unit in $5.4B deal

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

By The Associated Press
Tuesday, Dec. 17, 2013, 12:01 a.m.
 

AIG is selling its aircraft leasing business International Lease Finance Corp. to AerCap in a cash-and-stock deal valued at about $5.4 billion.

International Lease Finance has almost 1,000 owned and managed aircraft and has commitments to buy about 330 high-demand, fuel-efficient aircraft. It will become a subsidiary of AerCap.

American International Group Inc. said on Monday that this is the last major sale of one of its non-core assets.

AerCap, based in the Netherlands, has offices in the United States, Ireland, China, Singapore and the United Arab Emirates.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Amusement parks fight off home entertainment threat
  2. State officials prompt UPMC, Highmark to go to mediation to resolve Medicare dispute
  3. Lower gasoline prices fail to spur consumer spending
  4. S&P 500 logs 47th record high close for year
  5. Caution creeps into economic picture as consumer, business spending taper
  6. BNY Mellon trader fired in conduct probe
  7. Retailers that won’t open on Thanksgiving hope move pays off
  8. Highmark and UPMC feud over canceled physician contracts
  9. Federal agency checking whether Highmark has enough doctors in Medicare plan
  10. Westinghouse to construct colossal nuke plant in Turkey
  11. Shell set to buy land in Beaver County for potential ethane cracker
Subscribe today! Click here for our subscription offers.