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ILFC Orders $1.74 Billion in Airplane Engines

January 08, 1998|Reuters

International Lease Finance Corp., a Los Angeles-based aircraft leasing company, has ordered new engines worth $1.74 billion from General Electric Co., Pratt & Whitney and two international joint ventures. ILFC placed a $500-million order with CFM International, a 50-50 joint company between Snecma of France and General Electric Finance Corp., for about 90 CFM56 engines, a GE spokesman said. The engines are for 10 Airbus Industrie aircraft and 31 Boeing next-generation 737s. The leasing company also placed a $200-million order for 28 General Electric CF6-80C2 engines to power new Boeing 747 and 767 wide-body aircraft. The latest order brings ILFC's total order for CFM56-powered planes to nearly 357 aircraft, with more than 200 currently in service. ILFC is a unit of New York-based American International Group. AIG shares fell $1.06 to close at $107.88 on the New York Stock Exchange.

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