We will look to continue to grow our aviation lending business by financing airlines and investors and airlines directly on both brand new, and mid-life commercial aircraft.
CIT Group Inc. (NYSE: CIT) cit.com, today announced that CIT Aerospace, a global leader in aircraft finance, signed a total of 172 agreements in 2013 for the current and future leases of commercial aircraft, including the sale lease-back of 17 aircraft. CIT Aerospace delivered 63 aircraft, including new and used aircraft and lease extensions of the existing fleet, to its airline customers around the world and added 14 new customers to its client base.
“CIT Aerospace’s success in 2013 was based on more transactions and deliveries, a higher volume of sale-leasebacks and increasing demand,” said Tony Diaz, President of CIT Aerospace. “We will look to continue to grow our aviation lending business by financing airlines and investors and airlines directly on both brand new, and mid-life commercial aircraft.”
CIT Aerospace owns and finances a fleet of more than 350 commercial aircraft leased and financed to more than 110 customers in 50 countries.
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 more than 350 commercial aircraft leased and financed to more than 110 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 and equipment finance, as well as aerospace, equipment and rail leasing. 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