Aircraft lessor takes spin-off step

Aircraft leasing giant International Lease Finance Corp has unveiled plans for an initial public offering, taking the first steps to spin off from parent company American International Group Inc. In a filing with the Securities and Exchange Commission late on Thursday, the Century City company, commonly known as ILFC, said: "AIG has determined that ILFC is not one of its core businesses." The filing may mark the beginning of the end for AIG's 21-year ownership of ILFC. The subsidiary has struggled since AIG's near collapse in 2008 left the parent company under government control.