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CIT Group Inc. (NYSE: CIT), a leading global commercial finance
company, today announced that CIT Aerospace, a unit of CIT, has signed
contracts with Airbus for 20 new aircraft (fifteen A320 family
aircraft and five A330) worth approximately $1.9 billion at list
prices. The aircraft are scheduled to be delivered beginning in 2011
and continue through 2014.
"As a global leader in the aircraft leasing market, CIT is proud
to expand our fleet with these 20 new Airbus aircraft," said C.
Jeffrey Knittel, President of Transportation Finance at CIT. "We
continue to see a growing demand from our customer base for more
efficient aircraft similar to the Airbus A320 Family and A330s. As a
result of this demand we decided to take advantage of the opportunity
to further enhance and diversify our fleet."
John Leahy, Airbus Chief Operating Officer, Customers, said, "We
are pleased to see a leading leasing company and valued Airbus
customer placing repeat orders both for our current long-range
aircraft and for the A320 Family. This is a further proof of the
confidence of the financial sector in Airbus products."
CIT owns or manages a fleet of more than 300 commercial aircraft
and including the purchase announced today has ordered a total of 189
aircraft with Airbus (152 A320 Family aircraft, 30 A330s and seven
A350 XWBs) of which 93 aircraft are already delivered.
Airbus is an EADS Company.
Individuals interested in receiving future updates on CIT via
e-mail can register at http://newsalerts.cit.com.
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.
About CIT
CIT (NYSE: CIT) is a global commercial finance company that
provides financial products and advisory services to more than one
million customers in over 50 countries across 30 industries. A leader
in middle market financing, CIT has more than $80 billion in managed
assets and provides financial solutions for more than half of the
Fortune 1000. A member of the S&P 500 and Fortune 500, it maintains
leading positions in asset-based, cash flow and Small Business
Administration lending, equipment leasing, vendor financing and
factoring. The CIT brand platform, Capital Redefined, articulates its
value proposition of providing its customers with the relationship,
intellectual and financial capital to yield infinite possibilities.
Founded in 1908, CIT is celebrating its Centennial throughout 2008.
www.cit.com
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