CIT Signs Firm Order for 50 A320neo

CIT Aerospace has signed a purchase agreement with Airbus for the 50 A320neo family aircraft.

This deal, which CIT committed to at the 49th Le Bourget airshow on 21st June 2011, brings the total number of Airbus aircraft ordered by CIT since 1999 to 237 comprising 191 A320 Family aircraft (including the 50 A320neo aircraft), 41 A330s, five A350 XWBs of which 144 have been delivered so far.

“This A320neo order with Airbus allows CIT Aerospace to continue to add young and technologically-advanced aircraft to our portfolio, enabling us to provide the modern, fuel efficient aircraft that our customers demand,” said C. Jeffrey Knittel, President of Transportation Finance at CIT.

The A320neo is a new engine option for the A320 Family entering into service from 2015 and incorporates latest generation engines and large "Sharklet" wing tip devices, which together will deliver 15% in fuel savings. This reduction in fuel burn is equivalent to 1.4 million litres of fuel – the consumption of 1,000 mid size cars. This saves 3,600 tonnes of C02 per aircraft per year, the amount of C02 absorbed by 240,000 mature trees. The A320neo NOx emissions are 50% below CAEP/6 and this aircraft also has considerably a smaller noise footprint.

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