Paul Lewis/WASHINGTON DC
The CIT Group is set to announce an order for up to 50 Airbus and Boeing narrowbody and widebody aircraft, representing the US financing and leasing company's first major purchase of new passenger jets.
CIT's planned order is understood to include 25 Airbus A320s and five A330s, with options on a further five of the latter. The New Jersey-based company is also believed to be discussing an additional purchase of around 20 Boeing 737s.
No decision has yet been taken on selection of an engine for either Airbus type. The CFM International CFM56-5 and International Aero Engines V2500 are in contention for the A320 order, while the General Electric CF6-80C2, Pratt & Whitney PW4000 and Rolls-Royce Trent 700 are competing to power the A330.
An order announcement is expected in mid-February once the engine selection has been finalised. The company refuses to comment on any specific planned order or preferred jet type, but acknowledges its interest in acquiring new Airbus and Boeing aircraft.
"Given our history, business and infrastructure, there is arguably logic that would make sense to move into the new aircraft market. We do not envisage being an International Lease Finance or General Electric Capital, we're looking at maximising profits and see a demand from our customers for new aircraft," says CIT Aerospace executive vice-president Jeff Knittel.
CIT is the largest US player in the secondhand aircraft leasing market, with a portfolio of some 200 jets and turboprops of varying types, including Boeing 747s, 757s 767s, MD-11s and a smaller number of A320s. It is unclear for which carriers the new aircraft are intended, but CIT is believed to be in discussions with potential lessees.
Source: Flight International
