Mr. Weng Xianding, Chairman of New China Trust Co. Ltd
said, “Our group shares a commitment to ILFC’s
experienced management team, its operating philosophy,
and its presence in the United States. This transaction
allows ILFC to continue to serve its worldwide partners
in the aviation industry with world-class service while
accelerating its growth in important markets, including
Asia.”
ILFC is a leading independent aircraft lessor with a
global customer base of approximately 200 airlines in 80
countries. ILFC’s portfolio consists of over 1,000 owned
or managed aircraft, as well as commitments to purchase
229 new high-demand, fuel-efficient aircraft and rights
to purchase an additional 50 such aircraft.
Under the new owners, ILFC will retain operational
independence and continue to be headquartered in Los
Angeles, CA. ILFC’s Chief Executive Officer Henri
Courpron and President Frederick S. Cromer will continue
to operate and manage the business. ILFC currently
employs approximately 560 people, including more than
450 people based in the U.S., and expects to hire
additional U.S.-based staff to replace AIG-supported
operations. ILFC will remain incorporated in the U.S.
following the closing of this transaction and will
continue to be registered with the U.S. Securities and
Exchange Commission.
Upon closing, a distinguished new Board of Directors for
ILFC will be appointed. A majority of the new Board will
include leading independent U.S. and European aerospace
and financial industry experts, including Mr. Benmosche
from AIG. The balance of the Board will be comprised of
representatives of the investor group. The Board will
continue to uphold “best practice” governance standards
and practices.
“This is an exciting new chapter for ILFC that will
position the company for robust future growth,” Mr.
Courpron said. “With existing management remaining
in place, the transition will be seamless, allowing
ILFC to maintain its focus on delivering the best
mix of modern aircraft to meet our customers’ needs
around the world. In addition to a large aircraft
delivery pipeline, ILFC has a dedicated management
team with extensive airline, manufacturer, and
leasing experience. We look forward to working with
the investor group to explore new opportunities for
our business. Last year, ILFC opened new offices in
Beijing and Singapore dedicated to regional customer
support as the region’s aviation growth and demand
is well established and expected to increase
significantly.”
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