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Udvar-Hazy Replaced By D Steenland!  
User currently onlineFlighty From United States of America, joined Apr 2007, 8465 posts, RR: 2
Posted (4 years 6 months 4 weeks 13 hours ago) and read 8516 times:

http://www.bloomberg.com/apps/news?pid=20601087&sid=a1HHuREIwNI8&pos=4

Steenland again confirms his bulletproof reputation by offing one of the industry's kingpins. SUH is to leave the country "as early as this week," having been replaced by Steenland as chairman of IFLC, which is a unit of insurance company AIG.

20 replies: All unread, jump to last
 
User currently offlineNwafan20 From United States of America, joined Apr 2006, 157 posts, RR: 0
Reply 1, posted (4 years 6 months 4 weeks 13 hours ago) and read 8496 times:

Interesting indeed. Little correction though, hes planning on leaving the company, not the country.


Long live the Red Tail! | WMU Flight Science major
User currently onlineFlighty From United States of America, joined Apr 2007, 8465 posts, RR: 2
Reply 2, posted (4 years 6 months 4 weeks 13 hours ago) and read 8474 times:



Quoting Nwafan20 (Reply 1):
hes planning on leaving the company, not the country.

You're right. My apologies. Steenland is not quite that strong  Smile


User currently offlineStratosphere From United States of America, joined Sep 2007, 1651 posts, RR: 4
Reply 3, posted (4 years 6 months 4 weeks 13 hours ago) and read 8425 times:

Why do I feel sorry for the AIG employees


NWA THE TRUE EVIL EMPIRE
User currently offlineN328KF From United States of America, joined May 2004, 6484 posts, RR: 3
Reply 4, posted (4 years 6 months 4 weeks 13 hours ago) and read 8178 times:

There's more to it than this. Steenland is only replacing Udvar-Hazy as Chairman of ILFC. The new CEO will probably be John Plueger, who is currently the COO.

Apparently Udvar-Hazy is the one who chose to leave, and WSJ suggests that it may have something to do with his bid to split ILFC into two parts, one of which he would acquire.



When they call the roll in the Senate, the Senators do not know whether to answer 'Present' or 'Not guilty.' T.Roosevelt
User currently offlineLAXintl From United States of America, joined May 2000, 25052 posts, RR: 46
Reply 5, posted (4 years 6 months 4 weeks 13 hours ago) and read 8055 times:

Guess this does indeed build credence to rumors last few months that Udvar-Hazy was either looking to start up a new company from scratch, or try to to acquire ILFC back. Last I heard however was that proposed ILFC valuation was way too high for SUH taste.


From the desert to the sea, to all of Southern California
User currently offlineLightsaber From United States of America, joined Jan 2005, 12981 posts, RR: 100
Reply 6, posted (4 years 6 months 4 weeks 12 hours ago) and read 7867 times:
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Quoting N328KF (Reply 4):
Apparently Udvar-Hazy is the one who chose to leave, and WSJ suggests that it may have something to do with his bid to split ILFC into two parts, one of which he would acquire.

Interesting. I would love to know more of the reasons.

I suspect it is financing or the lack of it for ILFC.

So much about talking about the "Udvar-Hazy" A389.  duck 

Lightsaber



Societies that achieve a critical mass of ideas achieve self sustaining growth; others stagnate.
User currently offlineUsair320 From United States of America, joined Nov 2003, 991 posts, RR: 2
Reply 7, posted (4 years 6 months 4 weeks 12 hours ago) and read 7852 times:

And I thought we had seen the last of Steenland.....

User currently offlineN328KF From United States of America, joined May 2004, 6484 posts, RR: 3
Reply 8, posted (4 years 6 months 4 weeks 11 hours ago) and read 7700 times:



Quoting Lightsaber (Reply 6):
I suspect it is financing or the lack of it for ILFC.

So much about talking about the "Udvar-Hazy" A389.

Well, let me just say this: the bid is apparently on the rocks, even though Udvar-Hazy has full funding.



When they call the roll in the Senate, the Senators do not know whether to answer 'Present' or 'Not guilty.' T.Roosevelt
User currently offlineM404 From United States of America, joined Nov 2003, 2225 posts, RR: 5
Reply 9, posted (4 years 6 months 4 weeks 10 hours ago) and read 7424 times:
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Can their be any worries that Dougie would be brought into ILFC for the same skills he needed at NW?


Less sarcasm and more thought equal better understanding
User currently offlineN328KF From United States of America, joined May 2004, 6484 posts, RR: 3
Reply 10, posted (4 years 6 months 4 weeks 5 hours ago) and read 7046 times:



Quoting M404 (Reply 9):
Can their be any worries that Dougie would be brought into ILFC for the same skills he needed at NW?

ILFC is all bean counters and salesmen. Why would that particular talent set be needed?



When they call the roll in the Senate, the Senators do not know whether to answer 'Present' or 'Not guilty.' T.Roosevelt
User currently offlineRB211TriStar From United States of America, joined May 2007, 185 posts, RR: 0
Reply 11, posted (4 years 6 months 4 weeks 3 hours ago) and read 6696 times:

So does his name stay on the Smithsonian building in Dulles? I'm assuming he donated with his personal funds to achieve that status?

User currently offlineKeesje From , joined Dec 1969, posts, RR:
Reply 12, posted (4 years 6 months 4 weeks 2 hours ago) and read 6510 times:

Will ILFC now invest in upgraded used aircraft? Or is it what they own already..

Wonder what Udvar is going to do. We probably haven't heard the last thing from him either..


User currently offlineHBGDS From , joined Dec 1969, posts, RR:
Reply 13, posted (4 years 6 months 4 weeks 2 hours ago) and read 6428 times:

Reply 11, posted Mon Jan 25 2010 09:21:33 your local time (13 minutes 58 secs ago)

>So does his name stay on the Smithsonian building in Dulles? I'm assuming he donated with >his personal funds to achieve that status?

Yep, since they named the building after him. Otherwise, it would be the ILFC box, subject to change depending on who bought the company. (Think football stadiums and which bank sucked up what...)


User currently onlineStitch From United States of America, joined Jul 2005, 30858 posts, RR: 86
Reply 14, posted (4 years 6 months 4 weeks 2 hours ago) and read 6082 times:
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Quoting LAXintl (Reply 5):
Last I heard however was that proposed ILFC valuation was way too high for SUH taste.

Well with him out at ILFC, I would not be surprised if the value of those assets as a whole might have just dropped a zero...


User currently offlineRbgso From United States of America, joined Jun 2006, 588 posts, RR: 0
Reply 15, posted (4 years 6 months 4 weeks 2 hours ago) and read 6082 times:

I suspect we will see SUH back in the aircraft leasing business in relatively short order.

User currently offlineWestWing From United States of America, joined Feb 2005, 2134 posts, RR: 7
Reply 16, posted (4 years 6 months 3 weeks 6 days 23 hours ago) and read 4850 times:



Quoting Stitch (Reply 14):
I would not be surprised if the value of those assets as a whole might have just dropped a zero.

It always puzzled me that the ILFC valuation has been pegged variously between 4 billion and 12 billion USD. That is a huge range of uncertainty in valuation for an entity with what ought to be tangible assets. I think it was some 950 owned aircraft, of which 750 or so have a decent residual value.



The best time to plant a tree is 40 years ago. The second best time is today.
User currently offlineLuv2cattlecall From United States of America, joined Sep 2007, 1650 posts, RR: 2
Reply 17, posted (4 years 6 months 3 weeks 6 days 23 hours ago) and read 4605 times:
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Quoting WestWing (Reply 16):

It always puzzled me that the ILFC valuation has been pegged variously between 4 billion and 12 billion USD. That is a huge range of uncertainty in valuation for an entity with what ought to be tangible assets. I think it was some 950 owned aircraft, of which 750 or so have a decent residual value.

The big wild card is that if air travel took a dump (say, if fuel hit $300 a barrel), there would be no one willing to buy/lease most of those aircraft. All it would take is one or two major clients to go kaput and ILFC would be screwed.



When you have to breaststroke to your connecting flight...it's a crash!
User currently offlinePW100 From Netherlands, joined Jan 2002, 2430 posts, RR: 12
Reply 18, posted (4 years 6 months 3 weeks 6 days 20 hours ago) and read 3627 times:



Quoting Lightsaber (Reply 6):
So much about talking about the "Udvar-Hazy" A389.

Then bring on the "Douglas-Steen" A389!

PW100



Immigration officer: "What's the purpose of your visit to the USA?" Spotter: "Shooting airliners with my Canon!"
User currently offlineKL911 From Ireland, joined Jul 2003, 5124 posts, RR: 12
Reply 19, posted (4 years 6 months 3 weeks 6 days 20 hours ago) and read 3464 times:

Good! Steenland knows how to run a company and make profit. Wish him all the best.

Can we finally expect a large A380 order now?



Next trip : DUB-AUH-CGK-DPS-KUL-AUH-CDG-ORK :-)
User currently offlineN328KF From United States of America, joined May 2004, 6484 posts, RR: 3
Reply 20, posted (4 years 6 months 3 weeks 6 days 20 hours ago) and read 3383 times:



Quoting KL911 (Reply 19):
Good! Steenland knows how to run a company and make profit. Wish him all the best.

In one breath, you say this like Udvar-Hazy has never run a successful company. ILFC was doing enviably for 30 years, until this downturn.

Quoting KL911 (Reply 19):
Can we finally expect a large A380 order now?

And in the other breath, you want ILFC to order a bunch of aircraft nobody wants.



When they call the roll in the Senate, the Senators do not know whether to answer 'Present' or 'Not guilty.' T.Roosevelt
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