American International Group (AIG) has paused the sale of its giant aircraft leasing arm, International Lease Finance, as the company re-evaluates its sales strategy under the helm of a new chief executive, Dow Jones reported.
Incoming Chief Executive Robert Benmosche has "called a pause to the process," said one person familiar with the matter, as AIG considers whether it makes sense to hold onto the aircraft-leasing business long term.
This is a change in previous strategy, said several people familiar with the sales process. But given the difficulty in selling a company that needs financing, it "makes sense not to sell if you don't have to," said one of these people.
The possible ILFC sale was part of AIG's original plan to sell off assets in order to repay taxpayers for the US government bailout. The ILFC sale was much further developed than other sales and spin-offs, which raised market expectations it might be completed soon. |
|
|
Source: cargonewsasia
|
|
