June 21, 2011
CIT signs MoU with Airbus for 50 A320neo Family aircraft
CIT Group Inc., a global leader in transportation finance, has signed a Memorandum of Understanding with Airbus for 50 A320neo Family aircraft. Deliveries are scheduled to begin in 2016. The 32 Airbus aircraft that CIT ordered in June, 2007 are all scheduled for delivery by 2016.
CIT chose CFM International’s LEAP-X1A engine to power 15 Airbus A320neo family aircraft. The order also includes options to purchase engines to power an additional 10 aircraft. Deliveries are scheduled to begin in 2016. In addition CIT opted for 60 Pratt & Whitney PurePower PW1100G engines with options for up to 40 additional engines installed on aircraft. Deliveries are scheduled to start in 2016.
As of March 31, 2011, CIT owned or financed a fleet of approximately 300 commercial aircraft, including 166 Airbus aircraft. With this new order, the company now has a total order book of 156 aircraft scheduled for delivery through 2019, of which 100 are for Airbus aircraft.