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International Lease Finance Corporation (ILFC), a wholly owned subsidiary of American International Group, Inc. (NYSE: AIG), announced today that it has delivered an Airbus A320-200 aircraft to Myanmar Airways International (MAI). This A320 is the first commercial jet aircraft of its type to be provided on an operating lease to an airline in Myanmar by a global aircraft leasing company.
“ILFC is very pleased to be the first international leasing company to lease an A320 in Myanmar. We look forward to supporting MAI’s growth and that of the aviation industry in Myanmar,” said ILFC’s Head of Asia Pacific, David Nixon. “ILFC believes MAI will succeed on their plan to offer the region a preferred premium carrier. The A320 delivered to MAI will modernize and expand MAI’s current A320 fleet and offer increased takeoff weight, greater range and improved fuel economy.”
Si Thu, Managing Director and Chief Executive Officer of Myanmar Airways International, commented, “ILFC is one of the best brands in aviation, providing advanced total aircraft fleet solutions to its global partners. ILFC is the right partner for MAI, and the timing of this first ILFC A320 aircraft delivery to our airline will help us expand our fleet and extend our routes in this new era in Myanmar.”
The A320 single-aisle jetliner is the best-selling aircraft product line of all time. It is used in a full range of services from very short-haul airline routes to intercontinental segments. The aircraft is best known as the first airliner to introduce a fly-by-wire flight control system.
About Myanmar Airways International (MAI)
Launched in 1993, MAI is the first joint venture airline between the government and the private sector in Myanmar (20% owned by the government through Myanmar Airways and 80% by Kanbawza Group). MAI is the international airline of Myanmar with regular flights between Yangon (commercial capital of Myanmar), Singapore, Kuala Lumpur, Bangkok, Gaya and Guangzhou. In 2012, MAI will initiate its capacity expansion in the region with flights to Cambodia and Hong Kong. MAI operates six Airbus A320 with maintenance agreements in place with Sepang Aircraft Engineering (an EADS Company) and Air France Industries. ILFC’s A320 will be the seventh A320 in its fleet. MAI is currently in discussion with airframe manufacturers to modernize its fleet with either A320NEOs or 737MAX.
ILFC is the world’s largest independent aircraft lessor measured by number of owned aircraft. ILFC’s portfolio consists of over 1,000 owned or managed aircraft, as well as commitments to purchase 239 new high-demand, fuel-efficient aircraft and rights to purchase an additional 50 of such aircraft.
American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.