CIT Aerospace, a business unit of CIT Group Inc. (NYSE: CIT), a leading global provider of commercial and consumer finance solutions, has signed a firm contract for seven A350 XWBs, firming up on its prior commitment for five A350s and simultaneously increasing its order.
CIT has also signed a firm contract for 25 additional A320 Family aircraft.
"There is continued high market demand for the A320 Family. Adding these 25 aircraft to our fleet further expands our product offering, enabling us to meet the needs of our customers," says Jeffrey Knittel, President CIT Transportation Finance. "Additionally, the A350 XWB will offer our customers attractive operating economics in this high growth segment."
Including the order announced today, CIT has ordered a total of 164 Airbus aircraft (132 A320 Family aircraft, 25 A330s and seven A350 XWBs) of which 79 aircraft have been delivered so far.
"Leasing companies such as CIT have the vision to look far into the future. With the signature of today's contract, CIT underlines its endorsement to the success of the A350 XWB programme." says John Leahy, Airbus Chief Operating Officer Customers, "CIT's repeat order also highlights the continuing strong demand for our best-selling A320 Family - still the benchmark in single-aisle aircraft innovation."
The A350 XWB (extra wide-body) is Airbus' response to market demand for a medium capacity long range wide-body family. The A350 XWB will benefit from the widest fuselage in its category, offering unprecedented levels of comfort in this market segment. It will also offer the lowest operating costs and lowest seat mile cost of any aircraft in that category. The Family is designed to confront the challenges of high fuel prices, rising passenger expectations, and environmental concerns in that market segment.
The A320 Family, which also includes A318, the A319 and the A321, is recognized as the benchmark in the single-aisle aircraft market. So far over 5,070 A320 Family aircraft have been ordered, making it the best selling commercial jetliner ever.
Airbus is an EADS Company.