ILFC orders 100 Airbus planes, 33 Boeing aircraft

ILFC orders 100 Airbus planes, 33 Boeing aircraft

2011-03-10 10:12:32 GMT+7 (ICT)

LOS ANGELES (BNO NEWS) -- International Lease Finance Corporation (ILFC), a wholly owned subsidiary of American International Group, Inc., has announced that it has ordered a total of more than 130 planes from Boeing and Airbus.

ILFC, which is a market leader in the leasing and remarketing of commercial jet aircraft to airlines around the world, said it signed a memorandum of understanding for the purchase of one-hundred A320neo family aircraft from Airbus and a purchase agreement for 33 737-800 aircraft from Boeing.

ILFC Chief Executive Officer Henri Courpron said the orders will "rebalance" the company's order book and allows the company to offer the most technologically advanced single-aisle aircraft to its customers. "They perfectly complement our existing widebody orders for the 787 and A350 aircraft," he said.

The orders follow a year in which ILFC regained access to substantial liquidity with initiatives that led to $14 billion in financings and aircraft sales followed by a $2 billion revolving unsecured line of credit from eleven banks. The company posted strong revenues and cash flow from operations last year, which allows ILFC to grow.

The purchase agreement with Boeing will secure near-term access to the popular 737-800 aircraft with deliveries beginning in 2012. The memorandum of understanding with Airbus includes 75 A320neo and 25 A321neo, 60 of which will be powered by the Pratt & Whitney PurePower PW1100G engine beginning in 2016. This new agreement with Airbus will replace ILFC's prior commitment for ten A380s.

"We are pleased that the liquidity initiatives completed over the last twelve months have put ILFC in a position to take on these orders for new aircraft," said ILFC Chief Financial Officer Fred Cromer.

Airbus also welcomed the order, saying it expects to see a market of over 1,300 pasenger aircraft in the very large aircraft segment over the next 20 years. "The A380 continues to win new customers and many are coming back with repeat orders," said John Leahy, Airbus Chief Operating Officer.

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