Oct 15 (Reuters) - American International Group Inc's jet-leasing unit International Lease Finance Corp (ILFC) is going to pay back $2 billion in short-term debt which is due Thursday, the Wall Street Journal said, citing company officials.
'ILFC expects to meet its debt payment (Thursday Oct 15) through funds provided by AIG,' the paper cited an AIG spokeswoman as saying on Wednesday. 'ILFC will disclose the details of the funding in due course.'
The paper cited ILFC Chief Executive Steven Udvar-Hazy as saying that the company's leasing business remained profitable.
'We're now generating $6 billion in annual lease income and that generates a lot of cash,' the paper quoted Udvar-Hazy as saying. 'We're paying down $2 billion in debt on Oct. 15.'
AIG could not be immediately reached for comment by Reuters outside regular business hours.
Earlier this week, sources familiar with the matter told Reuters that AIG is in talks to sell a small part of ILFC to a group led by Udvar-Hazy.
(Reporting by Ajay Kamalakaran in Bangalore; Editing by Kim Coghill)
((ajay.kamalakaran@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800 +1 646 897 1898; Reuters Messaging: ajay.kamalakaran.reuters.com@reuters.net) Keywords: AIG ILFC/DEBT
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'ILFC expects to meet its debt payment (Thursday Oct 15) through funds provided by AIG,' the paper cited an AIG spokeswoman as saying on Wednesday. 'ILFC will disclose the details of the funding in due course.'
The paper cited ILFC Chief Executive Steven Udvar-Hazy as saying that the company's leasing business remained profitable.
'We're now generating $6 billion in annual lease income and that generates a lot of cash,' the paper quoted Udvar-Hazy as saying. 'We're paying down $2 billion in debt on Oct. 15.'
AIG could not be immediately reached for comment by Reuters outside regular business hours.
Earlier this week, sources familiar with the matter told Reuters that AIG is in talks to sell a small part of ILFC to a group led by Udvar-Hazy.
(Reporting by Ajay Kamalakaran in Bangalore; Editing by Kim Coghill)
((ajay.kamalakaran@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800 +1 646 897 1898; Reuters Messaging: ajay.kamalakaran.reuters.com@reuters.net) Keywords: AIG ILFC/DEBT
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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