ILFC recently sold 53 jets to Macquarie Group Ltd MQG.AX at a discount to their book value. The devaluation of older planes also creates an opportunity to buy on the cheap. Moreover, having a large portfolio of legacy aircraft is becoming a drag, as older planes are fast losing value. “Anyone who steps up to the plate wanting to order planes is going to have an advantage,” said Richard Aboulafia, an analyst with the Teal Group. Their problems also mean lessors who are in the market to buy planes can get better deals from manufacturers like EADS EAD.PA unit Airbus and Boeing Co BA.N. Udvar-Hazy's move comes as competitors owned by large companies like AIG, CIT Group Inc CIT.N and Royal Bank of Scotland Group Plc RBS.L are dealing with problems faced by their parents due to the financial crisis. Udvar-Hazy is looking for equity commitments of about $1 billion and debt financing of $1.5 billion to $2 billion for the venture, according to these sources, who declined to be named because talks are not public.
Steven Udvar-Hazy, the former chief of American International Group Inc's AIG.N International Lease Finance Corp, is raising several billion dollars for a new venture, sources familiar with the situation said.
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