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Onex part of duo bidding on AIG aircraft unit, report says

Onex and Greenbriar Equity Group reportedly are bidding on International Lease Finance Corp., AIG’s aircraft leasing arm, according to a report by the Financial Times.

Onex became tied with Wichita after it acquired Boeing’s commercial aircraft division, now Spirit AeroSystems.  In addition, a partnership between Onex and GS Capital Partners  acquired Raytheon Aircraft, now Hawker Beechcraft.

Another group submitting bids to acquire ILFC is Thomas H. Lee Partners and Carlyle Group, the report said. The identity of a third bidder could not be determined.

AIG is likely to negotiate with the three groups for several weeks before it presents the winning bid to the New York Federal Reserve and US Treasury, which hold about an 80 percent stake in the insurer.

ILFC has ordered 168 aircraft worth $16.7 billion from Boeing and Airbus. The aircraft are to be delivered during the next 10 years. Forty-nine of them, worth about $3 billion, are scheduled for delivery this year.

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