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ILFC's president on buying AeroTurbine

03 August 2011

International Lease Finance Corporation is purchasing part-out company AeroTurbine from AerCap in order to maximise the value of its older aircraft.

Read more: International Lease Finance Corporation AerCap

International Lease Finance Corporation announced today that it will acquire aircraft part-out company, AeroTurbine from Dutch lessor AerCap. The deal, which has been in the works for several months, is expected to close during the next few months.ILFC will pay $228 million for AeroTurbine, which will give the California lessor part-out capabilities in order to manage the older aircraft in the fleet. AerCap will guarantee AeroTurbine's obligations under its $425 million revolving credit facility until December 14, of which approximately $298.6 million was drawn as of July 31. In return, ILFC will provide AerCap with a guarantee of any...


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"I'm doing some overbooking. We know that there will always be some cancellations."

John Leahy, chief operating officer, customers, Airbus


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