Boeing (NYSE: BA) and CIT Group Inc. (NYSE: CIT), a global leader in transportation finance, announced today that CIT Aerospace has placed an order for 10 787-9 Dreamliners, valued at $2.5 billion at current list prices. This brings the leasing company's total 787 orders to 20, including 16 787-9s.
"We are pleased to place this order for 10 787-9 Dreamliner aircraft," said Jeff Knittel, president, CIT Transportation & International Finance. "These aircraft will add to our growing fleet of fuel efficient aircraft that remain in high demand from our airline customers, who also seek state-of-the-art aircraft that provide increased comfort and convenience for the traveling public."
"CIT is one of the leading companies in global transportation finance and clearly recognizes the value the 787-9 will bring to its airline customers," said John Wojick, Senior Vice President Global Sales and Marketing, Boeing Commercial Airplanes. "Airlines appreciate the economics with reduced fuel consumption, while their passengers love the Dreamliner experience."
The Boeing 787-9 Dreamliner is the second member of the super-efficient 787 family and celebrated its first customer delivery in June. Both the 787-8 and 787-9 bring the economics of large jets to the middle of the market, with 20 percent less fuel use and 20 percent fewer emissions than similarly sized airplanes and passenger-pleasing features. At 20 feet (6 meters) longer than the 787-8, the 787-9 extends the family in capacity and range, flying more passengers and more cargo farther.
Founded in 1908, CIT is a financial holding company with more than $35 billion in financing and leasing assets. It provides financing, leasing and advisory services to its clients and their customers across more than 30 industries. CIT maintains leadership positions in middle market lending, factoring, retail and equipment finance, as well as aerospace, equipment and rail leasing. CIT's U.S. bank subsidiary CIT Bank (Member FDIC), BankOnCIT.com, offers a variety of savings options designed to help customers achieve their financial goals.
Source: The Boeing Company (NYSE: BA)
Date: Jul 15, 2014