Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Udvar-Hazy’s Air Lease Raises $3.3 Billion for Jets

Don't Miss Out —
Follow us on:

July 15 (Bloomberg) -- Air Lease Corp., Steven Udvar-Hazy’s new jet-leasing company, said it secured $3.3 billion in financing and has begun buying aircraft with plans to exceed 100 airliners by early next year.

Air Lease raised about $1.3 billion of equity capital and received $2 billion of debt commitments, John Plueger, the Los Angeles-based lessor’s president and chief operating officer, said in a statement today.

“The company is already in the process of acquiring a portfolio of aircraft and has lease commitments from a large group of diversified airlines,” Air Lease said.

Udvar-Hazy founded International Lease Finance Corp. in 1973, selling it to insurer American International Group Inc. in 1990. He built it into the world’s largest plane lessor and the biggest customer for Boeing Co. and Airbus SAS before resigning in February. ILFC had lost access to its normal sources of funding because of its parent company’s woes amid a $182.3 billion government bailout during the recession.

Plueger, who had helped lead ILFC for more than two decades, left in March to rejoin Udvar-Hazy and help found Air Lease.

FBR Capital Markets managed Air Lease’s private placement of equity, while Moelis & Co. acted as financial adviser.

To contact the reporter on this story: Susanna Ray in London at sray7@bloomberg.net.

To contact the editor responsible for this story: Ed Dufner at edufner@bloomberg.net.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.