International Lease Finance Corp, which leases planes to airlines, said on Wednesday it would purchase parts seller AeroTurbine from its Dutch rival Aercap Holdings NV (AER.N) for $228 million. With AeroTurbine in the fold, ILFC has the means to part out its aging planes and resell them in the aftermarket. Prior to this purchase, recycling older planes was beyond the means of the leasing company. "We didn't have the skills. We didn't have the infrastructure, and there was some value leakage there, because people in the market knew we could not do that," ILFC Chief Executive Henri Courpron told Reuters. "We were not in a good marketing position to explore ways to extract all the value we can out of our aging aircraft," he said.
(function(){function a(c){this. Shares of AER traded higher by 0.94% or $0.1101/share to $11.87. In the past year, the shares have traded as low as $10.44 and as high as $15.99. On average, 407772 shares of AER exchange hands on a given day and today's volume is recorded at 214296.
