03 September 2009

Udvar-Hazy To Play Hardball With AIG - May Quit ILFC AND Start Rival

The battle of wits between the ILFC players has become a war of words - or rather a lack of them.

Steven Udvar-Hazy yesterday refused to deny that he would leave the company he founded ILFC. But combined with recent reports it is becoming clear that the players are not all in sync yet.

So at the heart of the matter is the need for AIG to divest itself of its holding in ILFC. But with not enough support for the divestiture deal to Udvar-Hazy himself, he is threatening to leave and start a rival. You can be damned sure that both Boeing and Airbus would support him in a heartbeat. Thus he is really in the driver's seat on this one. Starting a new company with a less complicated and burdened capital structure and the support of both the leading manufacturers could be very advantageous to the Hungarian born master aircraft salesman.

Don't you just love grown up games...

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