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In September 2018, Boeing, Boeing Capital and insurance firm Marsh & McLennan were sued for having stolen Xavian Insurance's actuarial analysis to create the Aircraft Finance Insurance Consortium (better known as AFIC) to replace financing from the US-Exim Bank, which at that time could not take new business because Congress had refused to ...
The International Lease Finance Corporation (ILFC) was an aircraft lessor headquartered in the Constellation Place in Century City, Los Angeles, California, US. [ citation needed ] It was the world's largest aircraft lessor by value, though ILFC's rival, General Electric's GECAS unit, had more aircraft.
The Essential Air Service program, which ensures commercial air service to smaller communities, the war risk insurance program, which provides insurance coverage for commercial flights to high-risk parts of the world, the National Mediation Board (NMB), and passenger and cargo commercial space transportation also fall within the purview of the ...
The Biden administration is making $482 million available to aviation industry manufacturers to help them avert job or pay cuts in the pandemic. The taxpayer-funded relief will cover up to half of ...
Under American and British accounting rules, a finance lease is generally defined as one in which the lessor receives substantially all rights of ownership, or in which the present value of the minimum lease payments for the duration of the lease exceeds 90% of the fair market value of the aircraft. If a lease is defined as a finance lease, it ...
The United States has a large percentage of the world's general aviation fleet and has a large established market. According to the 2014 report from GAMA (General Aviation Manufacturers Association), there are 362,000 general aviation aircraft worldwide, and 199,000 (or roughly 55%) are based in the United States. [4]
American International Group, Inc. (AIG) is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. [5] As of 2023, AIG employed 25,200 people. [6]
The company offered many aviation finance services, including aircraft leasing, aircraft lending, engine leasing, asset management, and aircraft consulting. 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 ...
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