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    CIT Signs Purchase Agreements with Airbus for 15 A330-900neo and Five A321-200ceo Aircraft
    Wednesday, December 3, 2014 08:30 AM
    Given our long-term leadership on the A330 program, we are proud to be one of the first customers to sign a purchase agreement for the all-new A330neo aircraft

    NEW YORK--(BUSINESS WIRE)--CIT Group Inc. (NYSE: CIT), a global leader in transportation finance, today announced that CIT Aerospace has signed purchase agreements with Airbus for 15 A330-900neo (new engine option) aircraft and five A321-200ceo (current engine option) aircraft. Deliveries of the A330-900neo are scheduled to begin in 2018 and deliveries of the A321-200ceo are scheduled to begin in 2015.

    “Given our long-term leadership on the A330 program, we are proud to be one of the first customers to sign a purchase agreement for the all-new A330neo aircraft,” said Jeff Knittel, President of CIT Transportation & International Finance. “These agreements will enable us to provide fuel efficient solutions to our customers as CIT continues to be a leader in providing early access to the most sought after aircraft for our customers.”

    John Leahy, Airbus Chief Operating Officer, Customers, said, “When a leading lessor, CIT, adds the A330neo to its already extensive Airbus widebody portfolio of A330ceo’s and A350-900s, we take that as clear confirmation of our widebody family strategy fully meeting the requirements and expectations of the market. CIT’s repeat order for A321ceo’s, is further evidence of the continuing high value placed by the market on this largest member of our popular A320 Family, which offers the best seat-mile costs of any single-aisle aircraft and the lowest fuel burn, emissions and noise footprint in its class.”

    The A330-800neo and the A330-900neo are two new members of the Airbus Widebody Family launched in July 2014 with first deliveries scheduled to start in Q4 2017. The A330neo incorporates latest generation Rolls-Royce Trent 7000 engines, aerodynamic enhancements and new cabin features. Benefitting from the unbeatable economics, versatility and high reliability of the A330, the A330neo reduces fuel consumption by 14% per seat, making it the most cost efficient, medium range Widebody aircraft on the market. In addition to greater fuel savings, A330neo operators will also benefit from a range increase of up to 400 nautical miles and of course all the operational commonality advantages of the Airbus Family.

    About Airbus

    Airbus is the world’s leading commercial aircraft manufacturer whose customer focus, commercial know-how, technological leadership and manufacturing efficiency have set the standard for the aviation industry. Headquartered in Toulouse, France, Airbus is owned by the Airbus Group, a global leader in aerospace, defense and related services. In addition to Airbus’ commercial aircraft activities, this group is comprised of the Airbus Helicopters and Airbus Defense and Space business units and maintains a presence on every continent. airbus.com

    About CIT Aerospace

    CIT Aerospace provides customized leasing and secured financing to operators of commercial and business aircraft. Its financing services include operating leases, single investor leases, leveraged financing, sale and leaseback arrangements, as well as loans secured by equipment. cit.com/aerospace

    About CIT

    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 lendingfactoringretail and equipment finance, as well as aerospaceequipment and rail leasing. CIT’s U.S. bank subsidiary CIT Bank (Member FDIC), BankOnCIT.com, offers a variety of savings options designed to help customers achieve their financial goals. cit.com

    Contact:
    CIT MEDIA RELATIONS:
    C. Curtis Ritter, 973-740-5390
    Senior Vice President of Corporate Communications
    Curt.Ritter@cit.com

    or

    Matt Klein, 973-597-2020
    Vice President, Media Relations
    Matt.Klein@cit.com

    or

    CIT INVESTOR RELATIONS:
    Barbara Callahan, 973-740-5058
    Senior Vice President
    Barbara.Callahan@cit.com

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