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BRITISH AIRWAYS TO LEASE TWELVE BOEING 737'S FROM ILFC

 BRITISH AIRWAYS TO LEASE TWELVE BOEING 737'S FROM ILFC
 CENTURY CITY, Calif., Oct. 23 /PRNewswire/ -- International Lease


Finance Corporation (ILFC), a wholly owned subsidiary of American International Group, Inc. (NYSE: AIG), today announced that it has entered into an agreement with British Airways PLC, (BA) whereby BA will take over leases of six ILFC B-737-400's and three B-737-300's presently leased by ILFC to Dan Air.
 Further, BA has agreed to lease from ILFC three additional B-737- 400's, including one used and two new aircraft, for deliveries in March, April and June, 1993.
 The transactions are connected with British Airways announcement today to purchase assets of Davies and Newman Holdings PLC, the parent of Dan Air Services - London.
 The twelve aircraft have a combined value of $350 million, and the leases, which extend through 1997, are valued at $180 million in rentals for ILFC during their contract terms with BA.
 ILFC is the international market leader in the leasing and remarketing of advanced technology commercial jet aircraft to airlines around the world. ILFC owns a jet portfolio valued at more than $7 billion, consisting of 180 jet aircraft.
 AIG is the leading U.S.-based international insurance organization and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write property, casualty, marine, life and financial services insurance in approximately 130 countries and jurisdictions, and are engaged in a range of financial services businesses. American International Group, Inc.'s common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.
 -0- 10/23/92
 /CONTACT: Alan Lund, senior vice president and CFO of ILFC, 310-788-1999, or John T. Wooster, vice president-communications of AIG, 212-770-3146/
 (AIG) CO: International Lease Finance Corporation; American International
 Group, Inc.; British Airways PLC ST: California IN: AIR SU:


SM -- NY078 -- 4387 10/23/92 17:49 EDT
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Publication:PR Newswire
Date:Oct 23, 1992
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