International Lease Finance Corporation (ILFC Sample Clauses

International Lease Finance Corporation (ILFC engages primarily in the acquisition of new and used commercial jet aircraft and the leasing and remarketing of such aircraft to airlines around the world. (See also Note (e) of Notes to Financial Statements.) AIG Financial Products Corp. and its subsidiaries (AIGFP) structure financial transactions, including long-dated interest rate and currency swaps and structures borrowings through notes, bonds and guaranteed investment agreements. (See also Note (e) of Notes to Financial Statements.) AIG Trading Group Inc. and its subsidiaries (AIGTG) engage in various commodities trading, foreign exchange trading, interest rate swaps and market making activities. (See also Note (e) of Notes to Financial Statements.) Financial services operations for the six month periods ending June 30, 1999 and 1998 were as follows: (in millions) ------------------------------------------------------ -------------------------------------------------------- Revenues: International Lease Finance Corporation $1,077 $ 963 AIG Financial Products Corp.* 306 207 AIG Trading Group Inc.* 128 195 Other 92 32 -------------------------------------------------------- Total $1,603 $1,397 -------------------------------------------------------- Operating income: International Lease Finance Corporation $ 284 $ 230 AIG Financial Products Corp. 196 119 AIG Trading Group Inc. 67 64 Other, including intercompany adjustments (41) (38) -------------------------------------------------------- Total $ 506 $ 375 -------------------------------------------------------- * Represents net trading revenues. Financial services operating income increased 34.7 percent in the first six months of 1999 over 1998. Financial services operating income represented 13.6 percent of AIG's income before income taxes and minority interest in the first six months of 1999. This compares to 12.5 percent in the same period of 1998. ILFC generates its revenues primarily from leasing new and used commercial jet aircraft to domestic and foreign airlines. Revenues also result from the remarketing of commercial jets for its own account, for airlines and for financial institutions. Revenues in the first six months of 1999 increased 11.8 percent from 1998. The revenue growth resulted primarily from the increase in flight equipment available for operating lease and the increase in the relative cost of the leased fleet. Approximately 20 percent of ILFC's operating lease revenues are derived from U.S. and Canadian airlines. During the firs...