ILFC considering split-up from insurer AIG: report
|
|
|
| Posted
:
Mon, 12 May 2008 05:38:00 GMT |
| By
:
Reuters |
| Category
:
US (Business) |
| News Alerts by
Email ( click
here ) |
|
US Business News |
Home
|
|
|
|
NEW YORK (Reuters) - International Lease Finance Corp, a unit of American International Group , is worried by the insurer's financial troubles and mulling a split from it, the Wall Street Journal said on Monday, citing people familiar with the matter.Officials at ILFC, a giant buyer of commercial aircraft which leases planes to air carriers, are worried that AIG's financial issues could make it tougher for ILFC to compete in the airplane leasing industry, the Journal report said.Last week, AIG posted a $7.8 billion quarterly loss after writing down assets linked to subprime mortgages.The results marked the second consecutive quarter that the world's largest insurer posted record losses. AIG also said it was replacing its chief financial officer, as operating income weakened across much of the company. Credit rating agencies Fitch and S&P cut their ratings on AIG after its quarterly report.The bad news last week from AIG was unexpected at ILFC and could lead officials there to seek changes, the Journal said, citing two people familiar with the situation.Possible alternatives could be selling ILFC to a group of investors or spinning it off, the report said, quoting one person who knew about the situation.ILFC Chief Executive Steven Udvar-Hazy, a big shareholder in AIG, has expressed concerns directly to AIG officials in New York, the report said, citing a person familiar with the situation.AIG and ILFC were not immediately available for comment.(Reporting by Aarthi Sivaraman; Editing by Quentin Bryar) (c) Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
|
|
|
|
|
|
Related News
Five more US bank failures bring total for 2009 to 120 New York - Bank failures in the United States have risen to 120 this year as five more regional institutions were added to the list, the US agency that guarantees the safety of bank deposits said. United Commercial Bank in San Francisco with assets o...
US stocks climb slightly despite double-digit jobless rate New York - US stocks posted mild gains Friday to end the week as investors shrugged off government figures that put the unemployment rate above 10 per cent. The Labour Department said the jobless rate hit 10.2 per cent in the month of October, the hi...
US joblessness hits 10.2 per cent, highest in 26 years - Summary Washington - The US unemployment rate surged to 10.2 per cent in October, the highest in 26 years as another 190,000 people lost their jobs, the Labour Department reported Friday. The figure comes after a 9.8-per-cent jobless rate in September and wa...
US joblessness jumps to 10.2 per cent, highest since 1983 - Update Washington - The US unemployment rate surged to 10.2 per cent in October, the highest in 26 years, as another 190,000 people lost their jobs during the month, the US reported Friday. The figure reported by US Labour Department came after the 9.8 per ...
US jobless rate jumps to 10.2 per cent Washington - The US unemployment rate surged to 10.2 per cent in October as another 190,000 people lost their jobs, according to US Labour Department figures released Friday. The jobless rate stood at 9.8 per cent in September. Unemployment had been ...
Bulls stop James, edge Cavs - Summary Los Angeles - The King couldn't deliver in the clutch. Luol Deng and Joakim Noah combined to deny LeBron James a potential game-winning drive in the final seconds as and the visiting Chicago Bulls snapped the Cleveland Cavaliers' three-game winning...
Mortgage lender Fannie Mae posts nearly 19-billion-dollar loss Washington - US mortgage lender Fannie Mae said Thursday that it would seek 15 billion dollars in federal aid, after posting its ninth consecutive quarterly loss. Fannie Mae reported a net loss of 18.9 billion dollars in the third quarter of 2009, co...
|
|
|
|
|
|
|
|