International Lease Finance Corp has drawn a step closer towards separation from its troubled parent, insurer AIG, with three investment groups submitting bids to acquire the aircraft lessor for less than $5bn (€3.8bn).

People close to the situation said one consortium was led by Thomas H. Lee Partners and Carlyle Group, while Onex and Greenbriar Equity Group headlined a second group. The third bidder's identity could not be determined.