American International Group, Inc. (AIG) announced that it has agreed to sell up to a 90% stake in International Lease Finance Corporation or ILFC to an investor group led by Weng Xianding, the Chairman of New China Trust Co. Ltd. The transaction, which is expected to close in the second quarter of 2013, values ILFC at around $5.28 billion.
The investor group comprised of New China Trust Co. Ltd., China Aviation Industrial Fund and P3 Investments Ltd. has agreed to acquire 80.1% of ILFC for approximately $4.23 billion, with an option to acquire an additional 9.9% stake. AIG will retain at least a 10% ownership stake in ILFC, allowing it to continue to participate in the growth of ILFC's unique franchise.
When the transaction meets the criteria for "held for sale" accounting treatment, AIG expects to record a non-operating loss of approximately $4.4 billion, which includes a non-cash charge of approximately $1.8 billion.
Under 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 expects to hire additional U.S.-based staff to replace AIG-supported operations. Upon closing, the majority of the new Board will include leading independent U.S. and European aerospace and financial industry experts, including Benmosche from AIG.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.