Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!americast.com!americast.com!americast-post Newsgroups: americast.latimes.money From: americast-post@AmeriCast.Com Organization: American Cybercasting Approved: americast-post@AmeriCast.com Subject: A Success Story Amid the Storm Date: Mon, 23 Nov 92 07:26:22 EST Message-ID: HEADLINE: A Success Story Amid the Storm Publication Date: Sunday November 22, 1992 BYLINE: RALPH VARTABEDIAN While the fortunes of the international aviation industry continue to sag, Beverly Hills-based International Lease Finance remains on solid footing. International Lease, an aircraft leasing company, posted a 35% increase in third-quarter operating earnings and is preparing to place a $4-billion order for 90 new aircraft. Contrast that with Ireland-based GPA, the world's largest aircraft lessor, which is grappling with $2.7 billion in debt and possible insolvency. International Lease, a subsidiary of American International Group, has 185 aircraft leased to airlines and has existing orders for about 200 more aircraft--60% of which are already leased, said Louis Gonda, International Lease executive vice president. "We have a pretty solid order book," Gonda said. "We are pretty unique in the sense that we are running counter to the woes of the industry. We are not feeling any fallout." A recent report by Morgan Stanley aerospace analyst Phil Friedman said the conservatively run company stands "in stark contrast to the trials and tribulations of GPA." International Lease reported third-quarter revenue of $186 million, up 28% from a year earlier. This article is copyright 1992 The Los Angeles Times Home Edition. Redistribution to other sites is not permitted except by arrangement with American Cybercasting Corporation. For more information, send-email to usa@AmeriCast.COM