The nation's biggest bailout recipient has not responded to Allied Aviation Services' $12-billion-plus offer for International Lease Finance Corp.

A New York aviation services company has offered to buy International Lease Finance Corp. in Century City for more than $12 billion in a deal that would sever the aircraft leasing firm's ties to the nation's biggest government bailout.
But ILFC parent company American International Group Inc., the insurance giant that received $182.5 billion in bailout money from the federal government, has refused to respond to or even comment on the offer.
“We have support all over the country, but for some reason we can't get a response from AIG,” said Robert Rose, president of Allied Aviation Services Inc., one of the nation's largest providers of fuel for commercial aircraft. The offer includes Allied's senior management working for no more than $1 a year until the leasing company's debt is paid off.
Rose said he has written AIG and the Treasury Department looking to discuss a possible deal for more than a year, but he has been “stonewalled.”
AIG also has refused requests for comment from The Times.
“From my standpoint, I'd like to see ILFC stay intact,” Rose said. “The company is strong. It just needs to be cut loose from AIG. We will clean up the financials and give the company some breathing room.”
In an unusual proposal, Allied wouldn't provide any money upfront, Rose said. Instead, Allied wants a three- to five-year government loan to cover the purchase price. During that time, Allied would assume ILFC's debt and restructure the company, he said.
(Source: Los Angeles Times)