Farnborough Air Show: ILFC mulling large order of 300 Airbus, Boeing aircraft

Britain: About the only organisation that may be expected to upstage buoyant Middle Eastern countries in placing orders for aircraft at the Farnborough International Air Show may be the International Lease Finance Corporation (ILFC), the world's biggest aircraft lessor. It is likely that the Farnborough event may see the giant lessor place orders for 300 planes with Boeing and Airbus.

It says that such a giant order would enable it to meet demand from airlines, currently reeling under high oil prices, which  are no longer in a position to afford their own aircraft. According to the International Air Transport Association (IATA), the international airline industry may face losses of over $6 billion this year, with oil prices hovering in the range of $147 a barrel mark. 

So far, in 2008, nearly 20 airlines across the world have collapsed, or filed for bankruptcy. Many others are postponing deliveries. As airlines battle rising costs, and slumping demand, ILFC is calculating that aircraft manufacturers may be forced to lower prices.

Company officials have dropped ample hints over the past month or so that they could purchase 150 single-aisle aircraft from Airbus and about the same number from Boeing. The Los Angeles-based ILFC is a unit of American International Group Inc and is the biggest owner of commercial airliners with a 1,000-strong fleet.