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

 

20 July 2006 Press Release

CIT Group Inc. (NYSE CIT), a leading provider of commercial and consumer financing solutions, has signed a firm contract with Airbus for five medium capacity long range A330-200 widebodies, as well as four A320 Family aircraft. The transaction underlines the continuing success of both the Airbus long-range aircraft Family, consisting of the A330, A340 and A350, and the leading role of the A320 Family in the marketplace.



Including the aircraft announced today, CIT has placed firm orders for a total of 117 Airbus products, including 97 A320 Family aircraft, 15 A330s and five A350s. Of these, 65 have been delivered so far. This repeat order by CIT is the result of the anticipated high demand for Airbus A330s and A320 Family aircraft on the leasing market.



Frederick E. Wolfert, CIT Group Inc. Vice Chairman Commercial Finance, said: ?We are pleased to expand our relationship with Airbus and increase our A320 and A330 Family of airplanes in our fleet. This new order of Airbus aircraft allows CIT to meet the needs of our global customers, and significantly enhances the value of the CIT Aerospace portfolio."



Christian Streiff, Airbus President and CEO 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."



Airbus is an EADS joint company with BAE Systems.

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