AIG (AIG) Acquiring Boeing (BA), Airbus Jets for $11.8 Billion

American International Group Inc. (NYSE:AIG)’s jet-leasing unit, International Lease Finance Corp., said it has ordered 33 737s from Boeing (NYSE:BA) and 100 Airbus SAS (EADSY.PK) aircraft, for $11.8 billion.

International Lease Finance Corp. said its deal with Airbus consists of 75 A320neo narrow-body jets, as the model fitted with new, more fuel-efficient engines is called, and 25 A321neo planes. That replaces a plan to buy 10 A380 superjumbo jets, which list for about $375 million each, ILFC said today.

The purchase will be Los Angeles-based ILFC’s first since 2007 as it seeks to resume growth after AIG’s bailout during the 2008 financial crisis. ILFC Chief Executive Officer Henri Courpron said in July he was starting negotiations about an order to add to the company’s fleet of about 930 aircraft.

“It’s encouraging to see that ILFC is firmly back in the game,” said Rob Stallard, an analyst with RBC Capital Markets in New York. “We expect their leasing peers to also be looking at follow-on orders this year.”

AIG closed Tuesday at $37.31, up $0.21, or 0.57 percent. Boeing closed at $72.04, up $1.16, or 1.64 percent.




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