NEW YORK & FARNBOROUGH, England, Jul 11, 2012 (BUSINESS WIRE) --
a global leader in transportation finance, today announced from the
Farnborough International Air Show (Air Show) that CIT
Aerospace has placed orders with Airbus for 10 A330 aircraft in
2012. Five A330 aircraft were ordered earlier this year in conjunction
with the cancellation of orders for four A320 family aircraft and the
exercise of an aircraft purchase option. An agreement to acquire the
additional five aircraft was entered into at the Air Show this morning.
Deliveries are scheduled to begin in 2014.
"This order further expands our aircraft portfolio with one of the most
popular widebody aircraft on the market today," said C.
Jeffrey Knittel, President of CIT Transportation Finance. "CIT
Aerospace is one of the largest lessors of A330s in the world and
maintains one of the youngest, most fuel efficient fleets in the
industry. This order will help us meet our customers' need for reliable
aircraft and will provide them with the operating economics that they
Fabrice Bregier, Airbus President and Chief Executive Officer, said,
"When a leading leasing company like CIT, places a repeat order for our
aircraft, we take that as a strong sign of customer satisfaction. The
A330 is already the market's favorite long-range aircraft, but we don't
stop there; we are continuously improving the A330 with, for example,
new weight variants which offer more payload-range capability. We look
forward to seeing CIT's customers benefit from the A330 Family's high
revenue generating potential thanks to its winning combination of
unbeatable economics and continuous innovations."
As of March 31, 2012, CIT owned or financed a fleet of more than 325
commercial aircraft, including 157 Airbus aircraft on operating lease.
With this new order, the company now has a total order book of 162
aircraft scheduled for delivery through 2019, of which 89 are for Airbus
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About CIT Aerospace
CIT Aerospace provides financing solutions to a broad spectrum of the
global aerospace value chain ranging from operators of commercial and
business aircraft to manufacturers and suppliers in the aerospace and
defense industries as well as financial institutions. cit.com/aerospace
Founded in 1908, CIT
is a bank holding company with more
than $34 billion in financing and leasing assets. A member of the
Fortune 500, it provides financing and leasing capital to its more than
one million small business and middle market clients and their customers
across more than 30 industries. CIT maintains leadership positions in small
business and middle
market lending, factoring,
leasing, and global
vendor finance. CIT also operates CIT Bank (Member FDIC), BankOnCIT.com,
its primary bank subsidiary, which offers a suite of online savings
options designed to help customers achieve a range of financial goals. cit.com
SOURCE: CIT Group Inc.
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