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A wet lease is a leasing arrangement whereby one airline (the lessor) provides an aircraft, complete crew, maintenance, and insurance (ACMI) to another airline or other type of business acting as a broker of air travel (the lessee), which pays by hours operated. The lessee provides fuel and covers airport fees, and any other duties, taxes, etc.
Air Lease Corporation (ALC) is an American aircraft leasing company founded in 2010 and headed by Steven F. Udvar-Házy. [2] Air Lease purchases new commercial aircraft through direct orders from Boeing, Airbus, Embraer and ATR, and leases them to its airline customers worldwide through specialized aircraft leasing and financing.
The company started by buying used passenger aircraft and having them converted into cargo aircraft for leasing. [1] In 2007, Intrepid placed an order for 20 Airbus A330-200 freighter aircraft. During the financial crisis of 2007–08 , Intrepid had to negotiate delaying deliveries by three years.
It's no secret that American International Group has been looking to sell assets in the wake of its financial difficulties. This insurance company yard sale of sorts had outside investors picking ...
Confirming the rumored sale of its aircraft leasing business, today AIG announced it has agreed to sell International Lease Finance Corporation (ILFC) to AerCap Holdings N.V. in a cash-and-stock ...
The company has a portfolio of 982 owned, managed and committed aircraft (as of 31 December 2023). It has more than 150 airline customers in over 50 countries worldwide, including a range of traditional carriers alongside start-up airlines. Its strategy is to own and lease technologically-advanced, fuel efficient and frequently-used aircraft types.
In terms of aircraft leasing, GECAS purchased aircraft from manufacturers such as Airbus and Boeing, and then leased them to airlines, typically for about eight years, and usually on dry lease contracts. GECAS also offered purchase leasebacks. The company had two global headquarters in Shannon, Ireland, and Norwalk, Connecticut. The company had ...
Insurance firm AIG announced Sunday that it has agreed to sell up to a 90% stake in its airplane leasing business, International Lease Finance Corp. (ILFC), to a group of Chinese investors. The ...