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CIT Aerospace Orders 10 787-9s

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CIT Aerospace Orders 10 787-9s

CIT Aerospace Orders 10 787-9s
July 15
08:19 2014

MIAMI — Aircraft lessor CIT Aerospace announced an order for 10 Boeing 787-9 Dreamliners Tuesday at the Farnborough Airshow. The order is valued at $2.5 billion at current list prices, and brings CIT’s total 787 order book to 20 airframes including 16 787-9s.

Jeff Knittel, President of CIT Transportation & International Finance was bullish on the 787-9’s prospects just a few hours after placing an order for 15 competing Airbus A330neos. “The airlines have voted… and our leasing ability on the aircraft has been great.” CIT does not have any firm placements for the 10 787s, but has several customers in mind. Deliveries of this batch of 787-9s will begin in 2018.

“We’ve had a very long relationship with CIT extending over decades. Bringing this up to 20 airplanes gives them the ability to be a large player in the 787 moving forward,” said John Wojick, SVP of Global Sales for Boeing Commercial Airplanes.

Meanwhile Mr. Knittel was open about the dual role for the A330neo alongside the 787-9 in his carrier’s portfolio. “They’re certainly competing airplanes [the 787-9 and A330-900neo]. No matter how much John Wojick or John Leahy tell me they’re going to get 100% market share, the chances of that are low. [Ordering both] enables us to have a diversified portfolio; an even spread of risk. Right product for the customer when they need it. Our job is to have the right aircraft for the customer at the right time.”

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