International Lease Finance Corporation
|Industry||Aircraft leasing and sales|
Los Angeles, California, U.S.
|Key people||Henri Courpron, CEO
Fred Cromer, President
|Revenue||US$4.73 billion (2007)|
|Net income||US$604 million (2007)|
|Employees||290 (March 2013)|
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. After Virgin America delayed the delivery of its Airbus A320neo family jets until 2020,ILFC has become the launch customer for the type.The A320neo is planned to enter service in October 2015 with ILFC, 27 years after the first A320 was delivered.
Father and son team Leslie Gonda and Louis L. Gonda founded ILFC in 1973 along with Steven F. Udvar-Hazy. 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.
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.
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.
- "ILFC Upsizes Committed Secured Loan to $1.5 Billion" (Press release). ILFC. April 21, 2011. Retrieved October 20, 2011.
- "ILFC Announces Commencement of Exchange Offer" (Press release). ILFC. April 6, 2011. Retrieved October 20, 2011.
- "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. Retrieved October 20, 2011.
- "ILFC Names Fred Cromer President" (Press release). ILFC. March 31, 2011. Retrieved October 20, 2011.
- "Cathay Pacific Airways to Lease Two A350s from ILFC" (Press release). ILFC. March 9, 2011. Retrieved October 20, 2011.
- "ILFC Orders Aircraft from Airbus and Boeing" (Press release). ILFC. March 8, 2011. Retrieved October 20, 2011.
- "ILFC Enters Into $2 Billion Committed Unsecured Credit Line – Action Continues Improved Funding Flexibility and Diversity" (Press release). ILFC. October 20, 2011. Retrieved October 20, 2011.
- "ILFC to Open Office in Europe Colin Bole Named SVP, Head of Europe, Middle East and Africa" (Press release). ILFC. January 26, 2011. Retrieved October 20, 2011.
- Niles, Russ (8 December 2012). "China Bids For Airliner Leasing Firm". AVweb. Retrieved 10 December 2012.
- "AFP: 2 Chinese funds exit deal to buy AIG's ILFC: source". Google.com. 2013-08-21. Retrieved 2013-12-16.
- "AIG Extends Deadline On ILFC Sale". News.airwise.com. 2013-08-07. Retrieved 2013-12-16.
- "AIG sells International Lease Finance for $5.4 bln". MarketWatch. Retrieved December 16, 2013.
- "Contact Us." 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. Retrieved September 22, 2011.