Aircraft leasing firm International Lease Finance Corp. announced in Friday regulatory filing that it plans to raise up to $100 million in an initial public offering of stock.

The Century City subsidiary of American International Group Inc. follows competitor Air Lease Corp., which was created by ILFC founder and former chief executive Steve Udvar-Hazy after he left ILFC last year. Air Lease went public in April.

The offering would comprise a 20 percent stake in the company, with AIG Capital planning to dispose of its 80 percent interest within three years through public or private stock sales, the Securities and Exchange Commission filing said

AIG itself is 77 percent owned by the Treasury Department following the government's $182 billion bailout of the insurance giant in 2008, and it is expected to use the IPO proceeds to pay down its obligations. AIG tried to sell all or part of ILFC during the financial crisis, but wasn’t able to get a good price.

ILFC Holdings Inc., ILFC’s holding company, said in the filing that it has applied to list its shares on the New York Stock Exchange under the symbol “ILFC.” It did not say how many shares it plans to sell or its price. Citigroup, J.P. Morgan and Morgan Stanley will underwrite the IPO.

ILFC, now led by Chief Executive Henri Courpron, was acquired by AIG in 1990. It’s considered the world's second-largest aircraft lessor by the value of its fleet of 1,000 owned or managed aircraft, which are leased to commercial airlines and other companies. It has commitments to purchase 236 new aircraft and rights to purchase an additional 50 jets.

For the six months ended June 30, the company reported net income of $143 million on revenue of $2.29 billion.

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