AIG has been reporting ILFC as if it were a stand alone entity in anticipation of an IPO.
Financial statements are available on its investor relations web page.
AIG has taken almost $3.5 billion in impairment charges over the last two years (roughly 10% of the book value of the fleet).
Selected Financial Data from 2011 10k:
The revenue is reasonably stable.
AIG was too aggressive with respect to depreciation, leading to the impairment charges in 2010 and 2011.
AIG has reduced unsecured debt by almost 50% and total debt by roughly 20%.
There is no compelling reason for AIG to be in this business, and their decision to sell makes sense. The only issues are how soon and how much.