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AIG cancels the sale of ILFC

27-Jan-2010 11:10 AM

American International Group (AIG) reportedly withdrew plans to sell aircraft leasing unit, International Lease Finance Corp (ILFC), as the company does not expect to generate sufficient profit to justify the sale, due to ILFC’s high debt loads (Financial Times, 27-Jan-2010). The decision could reportedly trigger the departure of co-founder and CEO, Steven Udvar-Hazy, as reported yesterday. Mr Udvar-Hazy is currently involved in a consortium attempting to acquire some of the company’s assets.