American International Group to sell ILFC
It has been revealed that American International Group Inc is going to sell majority of ILFC business to a Chinese business group. It is not the first time when Chinese firms have shown interest in aircraft purchase, as China is considered to be the largest ILFC market.
More than 180 planes have been operating there and it holds 35% stake when it comes to market share. It is said that Chinese group will buy the business for approximately $4.8 billion. Paul Sheridan, who is the head of Ascend Advisor said that it would not be wrong to say that deal will be the biggest one in the aircraft leasing sector.
"We believe there are not enough aircraft on order in China at the moment. It will help Chinese airlines get more aircraft", further affirmed Sheridan. If to view the bigger picture, it has been found that all the major plane owners will need more planes in the coming time.
If to talk about EADS and Boeing then they have said that by next 20 years, they will need $4.5 trillion worth jets. In order to solve the problem, China is found to be balancing between the two for their orders.
Global markets registered strong start for the week with oil prices recovering and Italian banks supporting European indices. Italian authorities said that they are ready to spend 17 billion Euros to deal with closure of two big banks in Italy.
An AirAsia flight returned to Perth 90 minutes after takeoff due to single engine failure. The flight for Kuala Lumpur returned due to technical issue and landed safely in Perth at 10 am.
Microsoft has confirmed that some part of Windows 10 source code has leaked online. Some of the leaked source code was posted to Beta Archive this week. Beta Archive website keeps track of Microsoft Windows releases.
Google will stop scanning content of emails in future for serving advertisements to users based on content of their emails. Google has been criticized for this controversial advertising technique by privacy advocates.
Austrian government’s plan to offer Euro 1,000 to migrants to return home has found limited number of takers. As per Interior Ministry data, 427 migrants have accepted the offer.
American aviation major Boeing has signaled its intent to unveil a modified version of its 737 MAX 10 aircraft at the opening of the Paris Airshow on Monday this week.