Certainly among the biggest initial public offerings to be announced this year. Steven Udvar-Hazy's Air Lease Corp. is selling 25 million shares at $25-$28 per share. Limited local impact - Air Lease does not employ all that many people. From DJ:
Los Angeles-based Air Lease is the most closely-watched of a cluster of well-capitalized aircraft leasing companies that emerged over the last 18 months, and its IPO performance is seen influencing investors' exit strategies and potential consolidation in the sector. Udvar-Hazy is credited with inventing the modern aircraft leasing sector and floated his International Aircraft Lease Finance Corp. business before selling it to American International Group Inc. (AIG) and then leaving the business last year to start Air Lease.
The company has agreed to buy 144 new aircraft through 2017.