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CIT Aerospace Signs 116 Agreements Related to the Lease of Commercial Aircraft and Delivers 56 Aircraft in 2012
Monday, February 11, 2013 08:30 AM

NEW YORK – CIT Group Inc. (NYSE: CIT), today announced that in 2012, CIT Aerospace, a global leader in transportation finance, delivered 56 aircraft to its airline customers around the world. These deliveries include new and used aircraft and lease extensions of the existing fleet. The Company signed a total of 116 agreements for the current and future leases of commercial aircraft, including the sale lease-back of six aircraft, and added 13 new customers to its client base. 

In addition, CIT placed orders for 15 new aircraft including ten Airbus A350s and five A330s.  CIT also continued to grow its aviation lending business through financing investors and airlines directly on both brand new, and mid-life commercial aircraft.  This included the acquisition of a $200 million aircraft loan portfolio from a European bank.

CIT Aerospace serves more than 100 customers in approximately 50 countries. CIT owns or finances a fleet of more than 350 commercial aircraft.

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. 

About CIT
Founded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $33 billion in financing and leasing assets. A member of the Fortune 500, it provides financing and leasing capital and advisory services to its clients and their customers across more than 30 industries. CIT maintains leadership positions in small business and middle market lendingfactoringretail financeaerospaceequipment and rail leasing, and global vendor finance. CIT also operates CIT Bank (Member FDIC), its primary bank subsidiary, which, through its online bank, offers a suite of savings options designed to help customers achieve a range of financial goals.

C. Curtis Ritter
Director of Corporate Communications
(973) 740-5390

Matt Klein
Vice President, Media Relations
(973) 597-2020

Abby Cohn
Vice President, Marketing and Advertising