Macquarie to acquire 53 aircraft from ILFC

Macquarie Group announced (14-Apr-2010) Macquarie Bank Limited (MBL) entered into an agreement to acquire an aircraft operating lease portfolio from ILFC, a subsidiary of American International Group (AIG). 47 aircraft will be purchased for USD1,671 million. In connection with the transaction, MBL will transfer to Macquarie AirFinance Limited (MAF) (of which Macquarie owns 37.5%), MBL's right to purchase six of the 53 aircraft directly from ILFC on similar terms to MBL. The purchase will be funded from existing cash reserves. B737NG and A320 family aircraft make up more than 70% of the portfolio. The remainder of the portfolio are in-production widebody aircraft. [more]