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CIT Aerospace signs agreements for a record number of aircraft in 2007

Jan 24, 2008, New York - CIT Group Inc. today announced that CIT Aerospace, Commercial Airlines has signed agreements for a record number of aircraft in 2007.


January 24, 2008
By Carey Fredericks

Jan 24, 2008, New York – CIT Group Inc. today announced that CIT Aerospace, Commercial Airlines has signed agreements for a record number of aircraft in 2007. By year-end, the company signed 60 memoranda of understanding for 120 aircraft and signed leases for an additional 56 aircraft. In addition, the Company closed 23 debt and equity financing transactions.

CIT Aerospace, Commercial airlines added 16 new global customers in 2007 and serves more than 100 customers in over 50 countries. CIT owns or finances a fleet of more than 300 commercial aircraft.

Tony Diaz, Executive Vice President and General Manager of CIT Aerospace, Commercial Airlines, said, “We had a very strong year and we look forward to continuing to provide innovative leasing and financial solutions to our growing international customer base in 2008.”

           

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About CIT Aerospace

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 and defense industries as well as financial institutions.  CIT owns or finances a fleet of more than commercial 300 aircraft.

 
About CIT
Founded in 1908, CIT (NYSE: CIT) is a global commercial finance company that provides financial products and advisory services to more than one million customers in over 50 countries across 30 industries. A leader in middle market financing, CIT has more than $80 billion in managed assets and provides financial solutions for more than half of the Fortune 1000.  A member of the S&P 500 and Fortune 500, it maintains leading positions in asset-based, cash flow and Small Business Administration lending, equipment leasing, vendor financing and factoring. The CIT brand platform, Capital Redefined, articulates its value proposition of providing its customers with the relationship, intellectual and financial capital to yield infinite possibilities. CIT will celebrate its centennial beginning February 11, 2008. www.cit.com .