AIG Involved in Yemen Plane Crash

The Airbus plane that crashed off Comoros Island, according to Reuters, was owned and leased by a subsidiary of AIG.

Yesterday, TheStreet reported that AIG is the largest consumer of Airbus and Boeing ( BA) planes, as the owner of a fleet of about 955 aircraft, through its subsidiary International Lease Finance.

The ILFC subsidiary has been a cash cow for AIG, and the insurer is currently in the process of looking to sell the company to help repay its massive $180 billion government debt.

The plane was carrying 153 people when it crashed into the Indian Ocean Tuesday morning as it tried to land during strong winds on Comoros.

Earlier in the year, AIG was put on the hook for the losses in the US Airways ( LCC), plane crash in the Hudson River. It was argued that the crash was covered under a hull and liability policy led by AIG.

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