PARIS 2011: CIT signs MoU for 50 A320neos

CIT Group and Airbus have signed a Memorandum of Understanding (MoU) for the lessor to purchase 50 A320neo family aircraft.

The order brings the total number of Airbus aircraft ordered by CIT to 241 aircraft, comprising 195 A320 family aircraft (including the 50 A320neos), 39 A330s, seven A350 XWBs. Of these 141 have been delivered so far.

“This order will enable CIT Aerospace to maintain one of the youngest and most technologically advanced fleets in the industry and will help us meet our customers’ demand for state-of-the-art, fuel efficient aircraft,” remarked Jeffrey Knittel, president of transportation finance at CIT.

CIT will use both the competing engines across the A320 neo fleet. The company has signed with Pratt & Whitney for 60 PurePower PW1100G and with CFM for 30 LEAP-X1A engines.

Deliveries of aircraft are scheduled to begin in 2016.

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