Bloomberg reported, according to a person with knowledge of the matter, that AIG has not received funds from a Chinese buyer group that had a deadline of July 31, 2013 to complete the $4.2 billion purchase of the insurer’s International Lease Finance aircraft leasing unit.

Bloomberg noted that AIG is increasingly likely to pursue an IPO for the aircraft leasing unit and quoted an analyst as saying, “I don’t think there’s a likely other acquirer out there for this asset.”

In May, the two sides agreed to extend the original closing date by one month, to June 14. In June, AIG and the consortium extended the window to close the deal until the end of July.

To read the Bloomberg story click here.

Previously on monitordaily.com: Reuters: Buyers Seek $1.5B Loan to Back ILFC Bid, July 11, 2013