AIG Exits ILFC After 5-Year Effort, Clash With Founder

American International Group Inc.’s sale of International Lease Finance Corp., completed yesterday, ends a quest by the insurer of more than five years to get rid of the unit. Below is a timeline of the struggles and eventual divestiture of the plane-leasing business, which was acquired in 1990 from founder Steven Udvar-Hazy for $1.16 billion and accumulated more than $20 billion in debt.

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