American International Group Inc. Chief Executive Officer Martin Sullivan said he did not foresee any economic impact yet from the recent foiling of a plot to blow up planes on transatlantic routes.
Speaking on a conference call with analysts following the release yesterday of second-quarter earnings, Mr. Sullivan said, "We obviously hope whatever impact [there is] will be short-term."
Allen Lund, chief financial officer of the AIG subsidiary International Lease Financial Corp., said it would be hard to assess the impact until it became clear how long the lengthened alert would be.
"People for August have already committed to their travel plans. So it is a question of what will happen on an ongoing basis," he said.
Mr. Sullivan said AIG was a leader in the global aviation sector, but he could not quantify the exposure in dollar terms.
Through its financial services operation, AIG is one of the largest leasers of new commercial aircraft in the world.
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