Low price forces AIG to abandon sale of plane leasing firm
AIG won’t sell its International Lease Finance Corp aircraft leasing unit after because it would not get a big enough profit, the FT reports.
AIG will have to fund the division’s large balance sheet either through its cash resources or by raising debt financing, which could be a strain, the FT says.
Standard & Poor’s cut ILFC’s rating to the lowest investment-grade level, citing concerns that AIG would take “several years” to sell the business.
