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Steven Udvar Hazy

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BUSINESS
July 21, 2010 | By W.J. Hennigan
Los Angeles Times Steven Udvar-Hazy continued his buying spree at Farnborough International Airshow in England on Tuesday, announcing another multibillion-dollar deal to purchase more than 50 airliners through his new start-up, Century City-based Air Lease Corp., or ALC. A day after announcing he was buying 51 A320-family airliners from European aircraft manufacturer Airbus, Los Angeles billionaire Udvar-Hazy struck a deal for 54 of the popular 737 commercial jets from Chicago-based Boeing Co. — potentially worth about $4.5 billion based on the plane's list price.
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BUSINESS
July 9, 2012 | By W.J. Hennigan
Los Angeles billionaire Steven Udvar-Hazy opened this year's Farnborough International Airshow in England with a blockbuster order for jets worth $7.2 billion in list-price value from aerospace giant Boeing Co. The chief executive from Air Lease Corp., the aircraft leasing firm in Century City, made a firm order Monday for 75 of Boeing's new, fuel-efficient 737 MAX jets.  Air Lease buys aircraft and rent them to airlines worldwide for...
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BUSINESS
July 20, 2010 | By W.J. Hennigan, Los Angeles Times
Just days after officially announcing his return to the aircraft leasing business he pioneered, Steven Udvar-Hazy took center stage at one of the world's premier air shows to reveal he had signed a multibillion-dollar deal to buy 51 Airbus airliners. Monday's blockbuster purchase, potentially worth $4.4 billion based on the plane's list price, signaled to the aviation industry that Udvar-Hazy was back in a big way. Just six months earlier, the Los Angeles billionaire had retired from Century City's International Lease Finance Corp.
BUSINESS
April 25, 2012 | By W.J. Hennigan, Los Angeles Times
Troubled insurance giant American International Group Inc. filed a lawsuit against the former head of its aircraft leasing business, Steven Udvar-Hazy, contending the Los Angeles billionaire stole company secrets, wooed away customers and pilfered business deals after he started a competing firm in 2010. The New York insurance company and its Century City unit, International Lease Finance Corp., or ILFC, filed suit Tuesday in Los Angeles County Superior Court. The 33-page complaint listed the defendants as Udvar-Hazy, his current company, Air Lease Corp., and 30 employees who left ILFC to work with him. AIG asserted in the lawsuit that the defendants collectively connected 16 flash drives to ILFC computers and downloaded nearly 13,000 ILFC files, which included price data concerning the value of aircraft fleets, past contracts, letters of intent and statements of work.
BUSINESS
January 15, 2011 | By W.J. Hennigan, Los Angeles Times
Air Lease Corp., the Century City aircraft leasing company started last year by Los Angeles billionaire Steven Udvar-Hazy, is seeking to raise $100 million in an initial public stock offering. In a filing with the Securities and Exchange Commission on Friday, Udvar-Hazy's company said it intended to use the money to fund acquisition of commercial aircraft and for general corporate purposes. The public offering could help Udvar-Hazy regain his stature as the godfather of aircraft leasing, the business of buying planes and renting them to airlines.
BUSINESS
November 12, 2011 | By W.J. Hennigan, Los Angeles Times
Air Lease Corp., the aircraft leasing company started last year by Los Angeles billionaire Steven Udvar-Hazy, reported a profit for the third quarter, citing strong demand for its aircraft amid airline expansion in many regions of the world. The Century City company reported late Thursday that net income for the three-month period ended Sept. 30 came to $18.3 million, or 18 cents a share. Analysts had expected a profit of 15 cents a share. Revenue totaled $92.1 million. Air Lease bought 14 planes during the quarter and now has a fleet of 79 aircraft.
BUSINESS
May 17, 2011 | By W.J. Hennigan, Los Angeles Times
Los Angeles billionaire Steven Udvar-Hazy's Air Lease Corp. reported a $3.2-million profit in its first quarterly earnings report — just one month after its first day of trading on the New York Stock Exchange. The Century City-based aircraft leasing company reported Monday that revenue for the three-month period ended March 31 totaled $55.2 million, compared with total expenses of $50.3 million. Air Lease announced earnings of 5 cents a share after the stock market closed.
BUSINESS
April 18, 2011 | By W.J. Hennigan, Los Angeles Times
Los Angeles billionaire Steven Udvar-Hazy's new aircraft-leasing venture is headed for a multimillion-dollar arrival on the New York Stock Exchange this week. Air Lease Corp., started last year by industry pioneer Udvar-Hazy, is set to go public with a stock offering that will fuel the Century City company's buying power to add to its fleet of new passenger jets. The deal also will boost the company's ability to take on larger global competitors, including Udvar-Hazy's former firm, International Lease Finance Corp., owned by insurance behemoth American International Group Inc. Air Lease, or ALC, could sell as many as 28.75 million shares of Class A common stock at $25 to $28 a share, raising as much as $805 million.
BUSINESS
April 25, 2012 | By W.J. Hennigan, Los Angeles Times
Troubled insurance giant American International Group Inc. filed a lawsuit against the former head of its aircraft leasing business, Steven Udvar-Hazy, contending the Los Angeles billionaire stole company secrets, wooed away customers and pilfered business deals after he started a competing firm in 2010. The New York insurance company and its Century City unit, International Lease Finance Corp., or ILFC, filed suit Tuesday in Los Angeles County Superior Court. The 33-page complaint listed the defendants as Udvar-Hazy, his current company, Air Lease Corp., and 30 employees who left ILFC to work with him. AIG asserted in the lawsuit that the defendants collectively connected 16 flash drives to ILFC computers and downloaded nearly 13,000 ILFC files, which included price data concerning the value of aircraft fleets, past contracts, letters of intent and statements of work.
BUSINESS
September 15, 2009 | W.J. Hennigan
If you've flown on a commercial airliner over the last two decades, there's a good chance you were in a plane leased from Steven Udvar-Hazy. The Hungarian refugee, who came to America as a child in 1958 with little more than a love for aviation, is now one of the richest men in Los Angeles. He amassed his estimated $2.2-billion fortune by building up a global aircraft-leasing empire and selling it in 1990 to insurance giant American International Group Inc. But now Udvar-Hazy, who was allowed to keep running the business under AIG, wants part or all of the company back.
BUSINESS
November 12, 2011 | By W.J. Hennigan, Los Angeles Times
Air Lease Corp., the aircraft leasing company started last year by Los Angeles billionaire Steven Udvar-Hazy, reported a profit for the third quarter, citing strong demand for its aircraft amid airline expansion in many regions of the world. The Century City company reported late Thursday that net income for the three-month period ended Sept. 30 came to $18.3 million, or 18 cents a share. Analysts had expected a profit of 15 cents a share. Revenue totaled $92.1 million. Air Lease bought 14 planes during the quarter and now has a fleet of 79 aircraft.
BUSINESS
May 17, 2011 | By W.J. Hennigan, Los Angeles Times
Los Angeles billionaire Steven Udvar-Hazy's Air Lease Corp. reported a $3.2-million profit in its first quarterly earnings report — just one month after its first day of trading on the New York Stock Exchange. The Century City-based aircraft leasing company reported Monday that revenue for the three-month period ended March 31 totaled $55.2 million, compared with total expenses of $50.3 million. Air Lease announced earnings of 5 cents a share after the stock market closed.
BUSINESS
April 18, 2011 | By W.J. Hennigan, Los Angeles Times
Los Angeles billionaire Steven Udvar-Hazy's new aircraft-leasing venture is headed for a multimillion-dollar arrival on the New York Stock Exchange this week. Air Lease Corp., started last year by industry pioneer Udvar-Hazy, is set to go public with a stock offering that will fuel the Century City company's buying power to add to its fleet of new passenger jets. The deal also will boost the company's ability to take on larger global competitors, including Udvar-Hazy's former firm, International Lease Finance Corp., owned by insurance behemoth American International Group Inc. Air Lease, or ALC, could sell as many as 28.75 million shares of Class A common stock at $25 to $28 a share, raising as much as $805 million.
BUSINESS
April 5, 2011 | By W.J. Hennigan, Los Angeles Times
Air Lease Corp., the Century City aircraft leasing company started last year by Los Angeles billionaire Steven Udvar-Hazy, said it planned to raise as much as $805 million in its initial public offering. The company, which buys passenger planes and rents them to airlines, said in January that it was planning an IPO. At that point ALC said it wanted to raise $100 million. The company said it would use the money to fund its acquisition of commercial aircraft and for general corporate purposes.
BUSINESS
March 9, 2011 | By W.J. Hennigan, Los Angeles Times
For the first time in more than three years, Century City aircraft leasing giant International Lease Finance Corp. is placing an order for passenger jets. The company, better known as ILFC, said it plans to purchase 100 Airbus A320 jets and 33 of Boeing Co.'s 737s. The planes have a book value of more than $11 billion. ILFC currently owns a fleet of about 930 aircraft but hasn't placed an order for new aircraft since October 2007. The company was restricted in its ability to pick up new planes after the 2008 global financial crisis nearly brought down its parent company, American International Group Inc. But last year, ILFC raised $14 billion from investors and aircraft sales.
BUSINESS
January 27, 2011 | By W.J. Hennigan, Los Angeles Times
Century City aircraft leasing giant International Lease Finance Corp. revealed plans for expansion this year, announcing it would open a new regional office in Amsterdam by this summer and its intentions to purchase new aircraft. The company, better known as ILFC, owns a fleet of about 950 aircraft, but hasn't placed an order for new passenger jets since 2007. It has been hampered in its ability to buy new jets because of the global financial crisis that nearly brought down its parent company, American International Group Inc. ILFC said it was in active negotiations with major commercial jet makers, including Boeing Co., Airbus and Bombardier Inc., to purchase more planes.
BUSINESS
March 22, 2008 | From the Associated Press
Boeing Co. says it has changed the design of a key part of its new 787 jetliner, but the company has not addressed rumors that the fix would contribute to further delays in the plane's first flight. "It is a normal part of the development of a new airplane to discover need for improvements, and that is what we are experiencing on the 787," Boeing spokeswoman Yvonne Leach said in a statement. Steven Udvar-Hazy, chairman of International Lease Finance Corp., one of Boeing's largest customers, this week said changes to the plane's center wing box could push back Boeing's 787 timeline.
BUSINESS
April 8, 2009 | Bloomberg News
American International Group Inc.'s aircraft-leasing unit, which has been shut off from its usual sources of funding, will get a $5-billion line of credit from the Federal Reserve to help prepare it for sale, according to three people with knowledge of the matter. The Fed, which along with the U.S. Treasury has committed $182.5 billion to the bailout of AIG since September, is working to help the insurer sell divisions to repay some of its loans.
BUSINESS
January 15, 2011 | By W.J. Hennigan, Los Angeles Times
Air Lease Corp., the Century City aircraft leasing company started last year by Los Angeles billionaire Steven Udvar-Hazy, is seeking to raise $100 million in an initial public stock offering. In a filing with the Securities and Exchange Commission on Friday, Udvar-Hazy's company said it intended to use the money to fund acquisition of commercial aircraft and for general corporate purposes. The public offering could help Udvar-Hazy regain his stature as the godfather of aircraft leasing, the business of buying planes and renting them to airlines.
BUSINESS
August 24, 2010 | W.J. Hennigan
International Lease Finance Corp. said Monday that it paid back the $3.9 billion it borrowed from the U.S. government, freeing up one of the world's largest aircraft leasing companies to purchase new planes once again. But a spending spree isn't expected any time soon. Rather, the Century City company will no longer have the short-term government debt that had weighed it down ever since its parent, American International Group Inc., received $182.5 billion in federal bailout money in 2008.
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