FED Approves $900 Million Loan to AIG Aircraft Leasing Subsidiary, The New York Federal Reserve has signed off an American International Group Inc.'s latest cash infusion for its aircraft lesing unit, a lifeline aimed at keeping it in business until it can be sold.
International Lease Finance Corp., one of the world's largest buyers of airlines, had warned that a failure to come up with new loans from AIG or someone could threaten its survival. AIG had already loaned $800 million to the unit to cover its March spending. Thursday, Chief Financial Officer Alan Lund told the Associated Press that another $900 million AIG loan for April was approved late Wednesday by the New York Federal Reserve.
The money will be recieved Monday, Lund said IFC has $600 million in debt that will mature two days lateer. ILFC said in filing that AIG will continue to offer such loans until March 2010 or until the unit is sold, which ever comes first. ILFC leases its 95 commerical jets- one of the world's largest fleets to airlines.
by The Associated Press
Posted by Mike D Lunsford at 10:18 PM 0 comments
International Lease Finance Corp., one of the world's largest buyers of airlines, had warned that a failure to come up with new loans from AIG or someone could threaten its survival. AIG had already loaned $800 million to the unit to cover its March spending. Thursday, Chief Financial Officer Alan Lund told the Associated Press that another $900 million AIG loan for April was approved late Wednesday by the New York Federal Reserve.
The money will be recieved Monday, Lund said IFC has $600 million in debt that will mature two days lateer. ILFC said in filing that AIG will continue to offer such loans until March 2010 or until the unit is sold, which ever comes first. ILFC leases its 95 commerical jets- one of the world's largest fleets to airlines.
by The Associated Press
Posted by Mike D Lunsford at 10:18 PM 0 comments
Obama can save America.
ReplyDeleteNo , he cannot . It will take all of us to save America . But , I do feel Obama is the right person for the job.
ReplyDelete