American International Group Inc. (NYSE:AIG), the insurer selling assets to repay a U.S. bailout, will weigh raising funds from International Lease Finance Corp., the company’s plane-leasing unit.
“To the extent that we ultimately find a way to monetize that asset for the benefit of ILFC, its customers, and for AIG, we would consider that,” Chief Executive Officer Robert Benmosche said in remarks posted late yesterday on the website of the New York-based insurer. “While it’s not core, the company has been a very good value investment for us. ILFC management is managing it for the long haul.”
AIG has raised more than $50 billion selling assets including non-U.S. life insurers, a consumer lender and equipment guarantor. The insurer said in a Nov. 19 letter to the U.S. Securities and Exchange Commission that it wasn’t attempting to sell the unit “at the present time.”
Chairman Steve Miller didn’t outline a timetable for a sale in remarks on AIG’s website.
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