AeroTurbine Announces New Partnership with Lufthansa Technik

  AeroTurbine Announces New Partnership with Lufthansa Technik

  Transaction Bolsters the Companies’ Offering in the Global MRO Market and
                Further Expands ILFC’s Business Opportunities

Business Wire

SINGAPORE -- October 28, 2013

AeroTurbine Inc., a wholly owned subsidiary of International Lease Finance
Corporation (ILFC), announced today its intention to enter into a new
partnership with Lufthansa Technik AG, the world's largest provider of
aircraft-related technical services.

ILFC subsidiary AeroTurbine's expansive engine and parts inventory warehouse
(Photo: Business Wire)

ILFC subsidiary AeroTurbine's expansive engine and parts inventory warehouse
(Photo: Business Wire)

Under the arrangement, which is subject to certain antitrust approvals and
other customary closing conditions, AeroTurbine and Lufthansa Technik will
enter into a set of commercial agreements covering the supply of AeroTurbine
material to Lufthansa Technik, the purchase of maintenance services from
Lufthansa Technik, and the consignment of surplus material to AeroTurbine.

In conjunction with the commercial agreements, Lufthansa Technik will also
purchase from ILFC an indirect 15% minority interest in AeroTurbine. ILFC will
continue to own the remaining interest in AeroTurbine. Lufthansa Technik also
can exercise an option to increase its investment to 19.9%, if certain
performance targets are met under the commercial agreements.

This new partnership builds on the companies’ already strong business
relationship, and underscores Lufthansa Technik’s interest in developing a
strategic alignment with ILFC, the world’s largest independent aircraft
leasing company.

Effective immediately upon closing, the companies will begin to take advantage
of the expanded reciprocal business opportunities in the aircraft material
maintenance, repair and overhaul market across all business lines.

“We could not be happier about our new partnership with Lufthansa Technik,”
said AeroTurbine President and Chief Executive Officer Michael King. “Both
companies hold leadership positions in their sectors of the aftermarket, and
this alignment will serve to make us both even stronger.”

“We are very excited about our new relationship with AeroTurbine and ILFC,”
added August Wilhelm Henningsen, Chief Executive Officer of Lufthansa Technik.
“We believe they have a unique value proposition with products and services
that are supporting our cost reduction and growth strategy. This agreement
combines one of the largest aircraft portfolios, with a world class supply
chain organization, to provide serviceable material to the Lufthansa Technik
family of companies.”

“The agreement is the logical extension of the companies’ established market
cooperation,” said ILFC Chief Executive Officer Henri Courpron. “This new
partnership is a first step in developing a broader relationship between
Lufthansa Technik and ILFC, which will leverage our core products and
processes to generate a significant value for our businesses, and will further
advance ILFC’s strategy to provide complete aircraft lifecycle solutions to
its customers.”

About Lufthansa Technik

Lufthansa Technik is one of the leading manufacturer-independent providers of
technical services for the aviation industry. The company’s portfolio
encompasses the entire spectrum of support in the areas of maintenance,
repair, overhaul, modification and conversion of aircraft, engines and their

About AeroTurbine

AeroTurbine offers the aviation industry access to one of the world’s largest
pools of certified aircraft engines, parts, and supply chain solutions. By
leveraging our expertise and financial strength, our customers can choose
solutions tailored to their operational and financial goals.

About ILFC

International Lease Finance Corporation (ILFC) is a global market leader in
the leasing and remarketing of commercial aircraft. With nearly 1,000 owned
and managed aircraft and commitments to purchase approximately 330 new
high-demand, fuel-efficient aircraft, ILFC is the world's largest independent
aircraft lessor. ILFC has approximately 200 customers 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). |
Twitter: @ILFCGlobal

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International Lease Finance Corporation
Paul Thibeau, +1-310-788-1999
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