AIG sells plane leasing firm ILFC to Chinese investors

American insurance company AIG said Sunday it will sell up to 90 percent of its plane leasing firm ILFC to a group of Chinese investors, in a deal that values ILFC at $5.28 billion.

The purchasing investor group is made up of New China Trust Co. Ltd, China Aviation Industrial Fund and P3 Investments Ltd.

They will acquire 80 percent of International Lease Finance Corporation for about $4.23 billion, with an option to acquire an additional 9.9 percent.