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Exclusive: Hazy on being free from ILFC
16 February 2010
Just 10 days after resigning from AIG, Steven Udvar-Hazy has already closed deals for his new aircraft leasing company. He is in discussions with investors and planning to order new aircraft. Hazy reveals his plans in an exclusive interview with Sophie Segal, editor, Airfinance Journal.
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Steven Udvar-Hazy
International Lease Finance Corporation
ILFC
American International Group
AIG
Boeing
Airbus
Bombardier
Greenbriar
It is 0800. Monday morning. Steven Udvar-Hazy, the former founder, chairman and CEO of International Lease Finance Corporation (ILFC), is already working hard. “I’m keeping busy,” says Hazy. “My retirement lasted about three hours.”
Hazy officially retired from the company, he spent 37 years building into the world’s largest aircraft leasing company, just 10 days ago. He has already closed sale/leasebacks with several airlines and is busy discussing funding for his new venture with investors all over the world.
His new venture will start out as a privately held company, with strong financial backing from what he calls “family owned enterprises”. Eventually he plans to bring the company public when markets improve. “Life as a private company has its distinct advantages, but also some limitations,” he says. “When market conditions are favourable in the next 12 to 18 months we can do another round of financing, with...
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