AIG Selling Aircraft Leasing Business in Deal Valued at $5.4 Billion

To Dutch firm

Insurance giant American International Group is selling its aircraft leasing business International Lease Finance Corp. to Netherlands-based AerCap in a cash-and-stock deal valued at about $5.4 billion.

AIG's aircraft leasing business, which has almost 1,000 owned and managed aircraft and commitments to buy approximately 330 high-demand, fuel-efficient aircraft, will become a subsidiary of AerCap.