International Lease Finance Corporation

Last updated
International Lease Finance Corporation (ILFC)
Company typeDivision
IndustryAircraft leasing and sales
FoundedJuly 1973;50 years ago (1973-07)
Headquarters Constellation Place
Los Angeles, California, U.S.
Key people
Henri Courpron, CEO
Fred Cromer, President
RevenueIncrease2.svg US$4.73 billion (2007)
Increase2.svg US$604 million (2007)
Number of employees
290 (March 2013)
Parent AerCap
Corporate headquarters, Constellation Place MGM Tower.jpg
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.[ citation needed ]

Contents

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.[ citation needed ] 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. [1]

On September 2, 2011, AIG filed with the SEC to spin off ILFC in an initial public offering. [2] [3] [4] [5] [6] [7] [8] [9]

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. [10]

In August 2013, two of the Chinese companies withdrew their involvement in the deal. [11] AIG had given a deadline for the completion of the deal as August 31, 2013, [12] and alternatives were considered, such as an initial public offering. [12]

On December 16, 2013, AIG announced they were selling its entire stake in ILFC to AerCap Holdings N.V. [13]

Headquarters

The ILFC was headquartered in Suite 3400 of the Constellation Place (formerly MGM Tower) in Century City, Los Angeles, California. [14] 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. [15]

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References

  1. ↑ "AIG Names Henri Courpron ILFC President and Chief Executive Officer". www.businesswire.com. 2010-05-19. Retrieved 2020-09-02.
  2. ↑ "ILFC Upsizes Committed Secured Loan to $1.5 Billion" (Press release). ILFC. April 21, 2011. Archived from the original on October 6, 2011. Retrieved October 20, 2011.
  3. ↑ "ILFC Announces Commencement of Exchange Offer" (Press release). ILFC. April 6, 2011. Archived from the original on October 6, 2011. Retrieved October 20, 2011.
  4. ↑ "ILFC Enters Into $1.3 Billion Committed Secured Loan with Right to Upsize: Diverse Group of Global Banks To Participate" (Press release). ILFC. March 31, 2011. Archived from the original on October 6, 2011. Retrieved October 20, 2011.
  5. ↑ "ILFC Names Fred Cromer President" (Press release). ILFC. March 31, 2011. Archived from the original on October 6, 2011. Retrieved October 20, 2011.
  6. ↑ "Cathay Pacific Airways to Lease Two A350s from ILFC" (Press release). ILFC. March 9, 2011. Archived from the original on October 6, 2011. Retrieved October 20, 2011.
  7. ↑ "ILFC Orders Aircraft from Airbus and Boeing" (Press release). ILFC. March 8, 2011. Archived from the original on March 14, 2011. Retrieved October 20, 2011.
  8. ↑ "ILFC Enters Into $2 Billion Committed Unsecured Credit Line – Action Continues Improved Funding Flexibility and Diversity" (Press release). ILFC. October 20, 2011. Archived from the original on October 6, 2011. Retrieved October 20, 2011.
  9. ↑ "ILFC to Open Office in Europe Colin Bole Named SVP, Head of Europe, Middle East and Africa" (Press release). ILFC. January 26, 2011. Archived from the original on October 6, 2011. Retrieved October 20, 2011.
  10. ↑ Niles, Russ (8 December 2012). "China Bids For Airliner Leasing Firm". AVweb. Retrieved 10 December 2012.
  11. ↑ "AFP: 2 Chinese funds exit deal to buy AIG's ILFC: source". 2013-08-21. Archived from the original on March 3, 2014. Retrieved 2013-12-16.
  12. 1 2 "AIG Extends Deadline On ILFC Sale". News.airwise.com. 2013-08-07. Retrieved 2013-12-16.
  13. ↑ "AIG sells International Lease Finance for $5.4 bln". MarketWatch. Retrieved December 16, 2013.
  14. ↑ "Contact Us Archived 2011-05-12 at the Wayback Machine ." International Lease Finance Corporation. Retrieved May 6, 2011. "10250 Constellation Blvd. Suite 3400 Los Angeles, CA 90067 USA"
  15. ↑ Leslie Wayne (May 10, 2007). "The Real Owner of All Those Planes". The New York Times . Retrieved September 22, 2011.
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