CIT Aerospace orders Additional Boeing 787 Dreamliners

CIT Aerospace has ordered five additional Boeing 787 Dreamliners, worth approximately US$810 million at list prices.

The order doubles the number of 787 Dreamliners ordered by CIT to 10 airplanes. In addition, CIT has taken delivery of 31 Boeing Next-Generation 737s and has unfilled orders for 10 Next-Generation 737s on order with Boeing.

"There continues to be high market demand for twin-aisle, more fuel-efficient aircraft," said C. Jeffrey Knittel, president of CIT Transportation Finance. "We are confident that the Boeing 787 Dreamliner will deliver the level of technological innovation and comfort that our customers demand."

The 787 Dreamliner, which will enter service in 2008, will provide operators with a more efficient commercial jetliner. Using 20% less fuel per passenger than similarly sized airplanes, the 787 is designed for the environment with lower emissions and quieter takeoffs and landings.

Inside the airplane, passengers will find a new interior environment with cleaner air, larger windows, more stowage space, improved lighting and other passenger-preferred conveniences.

CIT Aerospace provides financing solutions to a broad spectrum of the global aerospace value chain ranging from operators of commercial and business aircraft to manufacturers and suppliers in the aerospace, defense, and homeland security industries. CIT Aerospace manages a fleet of more than 300 commercial, regional and business aircraft leased and financed to over 100 airlines around the world.

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