CIT commits to order 15 A330neo and 5 A321ceo aircraft

A330neo momentum builds, A321 on-going market hit

15 July 2014 Press Release

CIT Group Inc. (NYSE: CIT), a global leader in transportation finance announced a commitment to order 15 A330-900neo aircraft and five A321ceo aircraft, becoming a launch customer for the new A330neo. The Memorandums of Understanding (MoU) were signed at the 2014 Farnborough International Airshow by Jeff Knittel, President of CIT Transportation & International Finance and Fabrice Brégier, Airbus President & CEO. CIT will announce its engines selection for the A321 aircraft at a later date.

“As one of the largest aircraft lessors in the world, we are pleased to be able to once again partner with Airbus on the newest variant of the A330, as well as their A320 Programme,” said Jeff Knittel, President of CIT Transportation & International Finance. “These new aircraft will allow CIT to maintain one of the youngest and most technologically advanced fleets in the industry, while providing fuel efficient aircraft solutions to our customers through a range of sizes and categories of aircraft.”

“We are delighted to see CIT, one of the largest aircraft lessors in the world, stepping up to become one of the first customers for our recently launched A330neo. This is a strong guarantee that our newest, most cost-efficient, medium range Widebody aircraft is set to become yet another Airbus best-seller,” said Fabrice Brégier, Airbus President and CEO. “CITs continuing appetite for our highly competitive largest single-aisle model, the A321, is evidence that the market is growing and is looking for increased capacity, productivity and the best standard of cabin comfort, all key attributes of the best-selling A320 Family.”

The A330-800neo and the A330-900neo are two new members of the Airbus Widebody Family launched in July 2014 with first deliveries scheduled to start in Q4 2017. The A330neo incorporates latest generation Rolls-Royce Trent 7000 engines, aerodynamic enhancements and new cabin features. Benefitting from the unbeatable economics, versatility and high reliability of the A330, the A330neo reduces fuel consumption by 14% per seat, making it the most cost efficient, medium range Widebody aircraft on the market. In addition to greater fuel savings, A330neo operators will also benefit from a range increase of up to 400 nautical miles and of course all the operational commonality advantages of the Airbus Family.

The A320 Family is the world’s best-selling single aisle product line with more than 10,500 orders to date and over 6,100 aircraft delivered. Thanks to its wide cabin, all members of the A320 Family offer the industry’s best level of comfort in all classes and Airbus’ 18” wide seats in economy as standard.  The newest member of the A320 Family, the A320neo, incorporates new generation engines and Sharklets (wing tip devices) which together deliver 15 percent in fuel savings. At the end of June 2014, firm orders for the NEO reached over 2,800 aircraft from 55 customers, representing a 60 per cent market share in its category.

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