American Airlines Signs Sale-Leaseback Arrangement With ILFC
American Airlines announced it has entered into a sale-leaseback arrangement with International Lease Finance Corp. (ILFC), an international leasing organization and subsidiary of American International Group, to finance 15 previously-ordered Boeing 737-800 Next Generation aircraft, two of which have been delivered and the remainder of which are scheduled to be delivered to American in 2012.
The Company said ILFC will purchase the aircraft from American and immediately lease the aircraft back to American under a sale-leaseback financing arrangement.
"We are pleased to establish a strategic relationship with ILFC," said AMR Chief Financial Officer Bella Goren. "This transaction, which will provide financing for 15 of our new 737-800 aircraft, is an effective means for diversifying our funding sources and we look forward to a long-term partnership with ILFC."
"ILFC is pleased to be able to support American Airlines in this strategic manner," ILFC Chief Executive Officer, Henri Courpron said. "Our ability to work with one of the largest airlines in the world to execute fleet management decisions is core to our business initiatives."
American Airlines, American Eagle and the AmericanConnection carrier serve 260 airports in more than 50 countries and territories with, on average, more than 3,400 daily flights.
American International Group (AIG) is an international insurance organization serving customers in more than 130 countries.
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