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    CIT Announces Order with Embraer for up to 30 E-Jets
    Represents First Direct Order with Airline Manufacturer
    Monday, November 7, 2011 08:30 AM
    We are pleased to announce our first direct order with Embraer for the E190/E195 aircraft, which will enable CIT Aerospace to offer an even more diverse set of products to its customers

    NEW YORK--(BUSINESS WIRE)--CIT Group Inc. (NYSE: CIT) cit.com, a global leader in transportation finance, today announced that CIT Aerospace placed an order for up to 30 Embraer 190 and/or Embraer 195 jets, ten of which are firm. Deliveries are scheduled through 2015.

    “We are pleased to announce our first direct order with Embraer for the E190/E195 aircraft, which will enable CIT Aerospace to offer an even more diverse set of products to its customers,” said C. Jeffrey Knittel, President of Transportation Finance at CIT. “This order allows CIT Aerospace to continue to maintain one of the youngest and most technologically advanced fleets in the industry and will help us meet our customers’ increased demand for this size aircraft.”

    "Embraer is very pleased to have such an important lessor as CIT Aerospace join the E-Jet program, said Paulo Cesar de Souza e Silva, Embraer President, Commercial Aviation. “After more than 1,000 firm orders, spread over 60 operators in 40 countries, this investment by CIT is further confirmation that the E-Jets have achieved a high level of attractiveness for the top-tier investor community."

    CIT owns or finances a fleet of approximately 300 commercial aircraft. With this new order, the Company now has a total order book of 172 aircraft scheduled for delivery through 2019.

    Individuals interested in receiving future updates on CIT via e-mail can register at http://newsalerts.cit.com.

    About Embraer S.A.

    Embraer S.A. (NYSE: ERJ; BM&FBOVESPA: EMBR3) is the world’s largest manufacturer of commercial jets up to 120 seats, and one of Brazil’s leading exporters. Embraer’s headquarters are located in São José dos Campos, São Paulo, and it has offices, industrial operations and customer service facilities in Brazil, China, France, Portugal, Singapore, and the U.S. Founded in 1969, the Company designs, develops, manufactures and sells aircraft and systems for the commercial aviation, executive aviation, and defense and security segments. It also provides after sales support and services to customers worldwide. On September 30, 2011, Embraer had a workforce of 17,204 employees – not counting the employees of its partially owned subsidiaries – and its firm order backlog totaled USD 16 billion. embraer.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. cit.com/aerospace

    About CIT

    Founded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $34 billion in financing and leasing assets. A member of the Fortune 500, it provides financing and leasing capital to its more than one million small business and middle market clients and their customers across more than 30 industries. CIT maintains leadership positions in small business and middle market lendingfactoringretail financeaerospace, equipment and rail leasing, and global vendor financecit.com

     

     

    Contact:

    CIT MEDIA RELATIONS:
    C. Curtis Ritter
    Director of Corporate Communications
    973-740-5390
    Curt.Ritter@cit.com
    or
    Abby Cohn
    Vice President, CIT Aerospace
    212-461-5713
    abby.cohn@cit.com
    or
    CIT INVESTOR RELATIONS:
    Ken Brause
    Executive Vice President
    212-771-9650
    Ken.Brause@cit.com

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