Debevoise Reps AIG Unit In $228M AeroTurbine Buy

Law360, New York (August 3, 2011, 1:23 PM EDT) -- American International Group Inc. unit International Lease Finance Corp. said Wednesday it would buy aircraft leaser AerCap Holdings NV's AeroTurbine subsidiary — which manages planes and parts — for $228 million as it seeks to maximize the life of its fleet.

Amsterdam-based AerCap, which owns and manages a fleet of 350 aircraft with an average age of 5 1/2 years, said it made the deal because, over the past five years, it had reduced the number of older aircraft in its operations.

With one of the...
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