We are excited to add Iberia to our overall portfolio and look forward to additional business opportunities with Iberia as well as the broader IAG Group.
NEW YORK – CIT Group Inc. (NYSE: CIT) cit.com, today announced that TC-CIT Aviation Ireland, a joint venture between CIT Aerospace and Century Tokyo Leasing (“CTL”), has delivered an Airbus A330-200 aircraft to Iberia, Lineas Aereas de Espana. This marks the 28th aircraft acquired by the TC-CIT joint venture, with total assets over $1 billion.
“The success of our joint venture is based on our ability to provide financing solutions to airline customers globally,” said John Morabito, Managing Director and Head of the Financial Institutions Group for CIT.
Mahoko Hara, Managing Executive Officer of CTL, added “We are excited to add Iberia to our overall portfolio and look forward to additional business opportunities with Iberia as well as the broader IAG Group.”
The aircraft, MSN 1736, is powered by CF6-80E1A4/B engines. This transaction was completed through a sale-leaseback by TC-CIT Aviation Ireland.
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, finances and manages a fleet of more than 350 commercial aircraft serving approximately 100 customers in 50 countries. cit.com/aerospace
CTL is one of the largest leasing companies in Japan. CTL offers an extensive range of products that include leasing and installment sale of information and communications equipment, automobile and car rental services, and highly specialized financings in the field of real estate, shipping, aircraft, healthcare and environmental energy. CTL also has an extensive overseas network operating in over 10 countries worldwide. www.ctl.co.jp
Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $65 billion in assets. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has more than $30 billion of deposits and more than $40 billion of assets. It provides financing, leasing and advisory services principally to middle-market companies across a wide variety of industries primarily in North America, and equipment financing and leasing solutions to the transportation sector. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A. cit.com
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