Steven F. Udvar-Házy

Steven Ferencz Udvar-Házy (István or Steve Hazy) (born 1946, Budapest, Hungary) is the Chairman and CEO of International Lease Finance Corporation (ILFC), which is one of the two largest aircraft lessors in the world (the other being GECAS.) [ [http://www.ilfc.com/ceo.htm ILFC | From The CEO] Accessed September 29, 2006] As of 2006 he is the 83rd richest American with a net worth of US$3.1 billion. [ [http://www.forbes.com/lists/2006/54/biz_06rich400_Steven-Udvar-Hazy_4VRV.html #83 Steven Udvar-Hazy - Forbes.com] Accessed September 29, 2006]

The Udvar-Házy (pronounced IPA|) family came to the United States in 1958, fleeing the Soviet occupation of Hungary. Hazy attended the University of California, Los Angeles.

Hazy was still in his 20s during the later part of transition from propeller aircraft to jets during the mid to late 1960s, and realized that the higher capital investment required created an opportunity for a leasing business. He founded ILFC with two partners in 1973, leasing a single used DC-8 to Aeromexico.

His company, ILFC, is the largest owner of aircraft in the United States; as of 2007, its fleet consisted of 824 Boeing and Airbus jets, with 254 on order. By comparison, the largest U.S. carrier, American Airlines, owns only 679 planes.cite news
url=http://www.nytimes.com/2007/05/10/business/10flyboy.html
title=The Real Owner of All Those Planes
date=May 10 2007
author=Leslie Wayne
publisher=The New York Times
accessdate=2007-05-10] ILFC is able to press its monopsony power and dictate design changes to Boeing, including aircraft ranges and fuel consumption. Hazy notably forced Airbus to redesign the A350 series, resulting in the A350 XWB (Extra Wide Body), and create the A319. He also pushed Boeing to create an extended-range version of the 777. Hazy believes that European carriers have a "long-term mentality" in comparison with U.S. carriers, so he does more business overseas.

Udvar-Hazy is responsible for a US$65 million grant to the Smithsonian Institution. This allowed the U.S. National Air and Space Museum to build the Steven F. Udvar-Hazy Center annex at Washington Dulles International Airport.Small, L. M. "A century's roar and buzz: Thanks to an immigrant's generosity, the Steven F. Udvar-Hazy Center opens to the public". In "From the Secretary". "Smithsonian". Vol. 34, p. 20.] The annex houses more than 120 aircraft and 140 space-exploration exhibits as of 2006, and plans call for eventually installing over 200 aircraft. [ [http://www.nasm.si.edu/museum/udvarhazy/lookingahead.cfm Steven F. Udvar-Hazy Center - Looking Ahead] Accessed September 30, 2006]

The Udvar-Hazy family contributed funds to build the Christine and Steven F. Udvar-Hazy Library and Learning Center at Embry-Riddle Aeronautical University's Prescott Campus. The new library provides students with updated facilities and a great view of the surrounding campus. This donation is the largest to date made to the university. [ [http://www.erau.edu/er/newsmedia/newsreleases/2008/hazy.html Aviation Entrepreneur Steven Udvar-Hazy Speaks at Embry-Riddle Commencement and Dedicates New Library] Accessed May 14, 2008]

ee also

*List of billionaires
*Steven F. Udvar-Hazy Center

References