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.
Ambiguous business cycles
4 hours ago