Leasing company CIT opts for more Airbus long-range and single-aisle aircraft

 

15 February 2007 Press Release

CIT Group Inc. (NYSE CIT) signed a firm contract with Airbus in December 2006 for five long range A330 widebodies, as well as ten A320 Family aircraft. The repeat order by this leading provider of commercial and consumer financing solutions underlines strong demand for the Airbus wide-body long-range aircraft A330/A340 Family, as well as the A320 Family in the international leasing market.

To date CIT has placed firm orders for a total of 142 Airbus aircraft, including 112 A320 Family aircraft, 25 A330s and five A350s. Of these, 73 have been delivered so far.

"With their broad market acceptance, the A330 and A320 continue to perform exceptionally well for our clients around the world," said C. Jeffrey Knittel, President of CIT Aerospace. "We appreciate Airbus' efforts in structuring a deal that brings the benefits of these leading technology aircraft to both CIT's customers and its shareholders."

John Leahy, Airbus Chief Operating Officer, Customers said: "It's always a re-affirmation of our product line when we receive repeat orders. We are delighted that an important leasing company such as CIT has again demonstrated its confidence in our products, both the winning A330 and the leading A320, by placing a repeat order with Airbus."

The A330 is the aircraft of choice for many operators and is the unquestioned leader in its class with a commanding market share and a continually expanding operator base. The A330 has excellent flexibility for a wide range of route structures, providing the operator with a very low operating cost per seat as well as the widest and most comfortable cabin in its category. Its proven record of superior economics and passenger comfort provides the operator with a significant competitive advantage in the market today.

The A320 Family's optimised cabin cross-section - the widest single-aisle fuselage on the market - sets new standards for passenger cabin flexibility in this segment. It allows for top-of-the-range comfort with wider seats and aisles, or an extra-wide aisle for the fast turnarounds that are essential in the low-cost markets. Superior cabin size and shape allow larger overhead stowage to be fitted for faster boarding and deplaning as well as greater convenience.

Firm orders for the Airbus A320 Family now stand at almost 5,000, from around 240 customers and operators worldwide.

Airbus is an EADS company.