India’s High Court Supports Departure of ILFC’s First Aircraft

  India’s High Court Supports Departure of ILFC’s First Aircraft

                        A Step In The Right Direction

Business Wire

LOS ANGELES -- March 25, 2013

International Lease Finance Corporation (ILFC), a wholly owned subsidiary of
American International Group, Inc. (NYSE: AIG), announced today the successful
removal of its A321 aircraft from India following Delhi’s High Court decision
on March 15, 2013.

This first aircraft's departure demonstrates the High Court's pragmatic
approach in an environment that is perceived as hostile by many foreign
investors. This decision marks a first step in the right direction, and
adheres to the principles denoted in the Cape Town treaty (ratified by India
in 2008) and international best aviation practices. Based on media reports,
this decision is in line with the policy change expected to be made by the
Indian government in short order.

“This decision is a much anticipated development in ILFC’s efforts to recover
our aircraft and engines,” said ILFC Chief Executive Officer Henri Courpron.
“We commend India’s High Court for taking a firm stance which we hope will
prompt the publication of the much awaited policy revision. It is not too late
for India to reverse the current negative perception prevailing within the
international finance forum. A comprehensive change in the current policy
permitting ILFC’s assets to be removed from India without any restrictions
will be considered a positive and much needed step towards reform. This policy
is expected to bring much relief to India’s aviation sector by safeguarding
Indian airlines’ continued ability to obtain needed affordable aircraft
financing."

About ILFC

International Lease Finance Corporation (ILFC) is a global market leader in
the leasing and remarketing of commercial aircraft. With approximately 1,000
owned and managed aircraft and commitments to purchase 244 new high-demand,
fuel-efficient aircraft and rights to purchase an additional 50 A320neo family
aircraft, ILFC is the world's largest independent aircraft lessor. ILFC leases
aircraft to approximately 200 airlines in more than 80 countries and provides
part-out and engine leasing services through its subsidiary, AeroTurbine. ILFC
operates from offices in Los Angeles, Amsterdam, Beijing, Dublin, Miami,
Seattle, and Singapore. ILFC is a wholly owned subsidiary of American
International Group, Inc. (AIG). www.ilfc.com | Twitter: @ILFCGlobal

About AIG

AIG is the world’s largest insurance organization, serving more than 88
million customers in more than 130 countries and jurisdictions around the
world. AIG businesses are market leaders in property casualty insurance, life
insurance and retirement services, mortgage insurance, and aircraft leasing.
Additional information about AIG can be found at www.aig.com | YouTube:
www.youtube.com/aig | Twitter: @AIG_LatestNews | LinkedIn:
www.linkedin.com/company/aig

Contact:

International Lease Finance Corporation
Paul Thibeau, +1 310 788 1999
pthibeau@ilfc.com
 
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