Type Division Net income US$604 million (2007) Founded July 1973 Acquisition date 1990 | Revenue US$4.73 billion (2007) Website www.ilfc.com Number of employees 290 | |
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Industry Aircraft leasing and sales Key people Henri Courpron, CEOFred Cromer, President CEO Henri Courpron (May 2010–) Parent organizations AerCap, American International Group, AIG Capital Corporation, Guinness Peat Aviation Founders Steven F. Udvar-Házy, Louis L. Gonda, Leslie Gonda | ||
Aercap celebrates completion of acquisition of international lease finance corporation
The International Lease Finance Corporation (ILFC) is an aircraft lessor headquartered in the Constellation Place (formerly the MGM Tower) in Century City, Los Angeles, California.
Contents
- Aercap celebrates completion of acquisition of international lease finance corporation
- History
- Headquarters
- References
It is the world's largest aircraft lessor by value, though ILFC's rival, General Electric's GECAS unit, has more aircraft. It leases Boeing and Airbus aircraft to major airlines worldwide, including Aeroméxico, Air Canada, Asiana Airlines, Korean Air, Cathay Pacific, Cyprus Airways, Air France–KLM, Lufthansa, Alaska Airlines, American Airlines, Air India, United Airlines, Norwegian Air Shuttle, Pakistan International Airlines, South African Airways, Emirates, Gulf Air and most recently, Delta Air Lines.
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 AIG in 1990, although the unit was still run by Udvar-Hazy until he retired in February 2010; he was succeeded by vice-chairman Alan Lund. Henri Courpron, a former Airbus executive, was appointed as 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 100% stake in ILFC to AerCap Holdings N.V.
Headquarters
The ILFC is 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 has a working fireplace.