Century City Aircraft Leasing Company Raises a Flag

The problems plaguing insurance giant American International Group have spread to the world's largest aircraft leasing company, which is based in Century City. International Lease Finance Corporation is an AIG subsidiary.

The company has told the Security and Exchange Commission that as a result of its parent company's problems, its own survival could be at risk if it can't secure new loans. But the company subsequently said it was merely detailing a worst-case scenario.

The possibility of International Lease Finance experiencing financing problems sent a chill through the aviation industry. International Lease Finance owns 955 passenger jets, and its planes are flown by nearly every major airline.

It is the biggest customer of each of the two remaining manufacturers of large commercial aircraft, the Boeing Company and Europe's Airbus.

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