We are pleased to establish this new relationship with Global Knafaim Leasing
CIT Group Inc. (NYSE: CIT), a global leader in aircraft finance, today announced that CIT Aerospace provided a $36 million senior secured facility to Global Knafaim Leasing to finance its acquisition of two aircraft - one Airbus A321 leased to British Airways and one Boeing 737-800 leased to Comair.
Financing was provided by CIT Bank, the U.S commercial bank subsidiary of CIT. Terms of the transaction were not disclosed.
“We are pleased to establish this new relationship with Global Knafaim Leasing,” said John Morabito, Senior Vice President, Financial Institutions Group, CIT Aerospace. “This transaction highlights our ability to meet the financing needs of our clients as they seek to grow their aircraft portfolios. We look forward to building our relationship with Global Knafaim Leasing.”
About CIT Aerospace
As one of the world's leading aircraft leasing organizations, CIT Aerospace provides leasing and financing packages – including operating leases and structuring and advisory services – for commercial airlines worldwide. CIT Aerospace owns and finances a fleet of approximately 330 commercial aircraft leased and financed to approximately 100 customers in 50 countries. cit.com/aerospace|
Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $35 billion in financing and leasing assets. It provides financing, leasing and advisory services to its clients and their customers across more than 30 industries. CIT maintains leadership positions in middle market lending, factoring, retail finance, aerospace, equipmentand rail leasing, and vendor finance. CIT operates CIT Bank (Member FDIC), its primary bank subsidiary, which, through its Internet bank BankOnCIT.com, offers a suite of savings options designed to help customers achieve a range of financial goals. cit.com
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