posted on Dec, 10 2012 @ 11:00 AM
AIG was at the center of the bailouts. To put it simply, they sold insurance on risky financial derivatives products. When that market began to
collapse, they could not cover their obligations to pay out, which would have meant that many banks and other financial institutions would have
suddenly been insolvent. The bailout of AIG was the largest bailout of a private company by the US government in history.
According to Wikipedia
, ILFC (International Lease Finance Corp) is one
of the two largest aircraft leasing companies in the world (the other being General Electric, GE). ILFC leases planes to many major airlines,
Delta Air Lines
Norwegian Air Shuttle
Pakistan International Airlines
The deal will have to be reviewed by the Committee on Foreign Investment in the United States for any security concerns.
If you start looking into AIG, it leads down the rabbit hole as they are a heavyweight in the insurance industry with huge tie-ins with Central
But perhaps of even more concern here are the potential implications of Chinese control of leasing the planes to major airlines. First, from an
economic perspective you have to wonder if they are going to supply Boeing and Airbus planes, as ILFC currently does, or if this is a way to get
Chinese planes into the world market long term. Second, you have to wonder about whether the Chinese will just do the financials or whether they will
ever have physical control of the planes. I would think that the US especially would have security concerns if the Chinese would have physical access
to a high percentage of the planes of American airlines.
Anyone know if Air Force One is leased?
(visit the link for the full news article)
edit on 10-12-2012 by ikonoklast because: Corrected an error in editing text.
on 10-12-2012 by ikonoklast because: Added Wikipedia link to International Lease Finance Corp page on Wikipedia