31st Oct 2005 15:16
October 31, 2005 CIT places $400 million order for Iae's v2500 CIT Group Inc, a leading provider of commercial and consumer finance solutions,has today (October 31) selected the V2500 to power up to 24 Airbus A320 familyaircraft. The order is made up of 12 firm and 12 options and, if all theoptions are realised, the deal will be worth more than $400 million.IAE President Mark King said: "CIT's expertise lies in its ability toaccurately forecast demand and provide leading products to meet the needs ofits customers, so this selection should be seen as a further endorsement of themarket-leading qualities of the V2500."Our engine's leading fuel burn advantage, world-class reliability and IAE'sprogram of continuously improving the V2500, has ensured it remains the engineof choice for lessors and operators of the Airbus A320 family. We're delightedby CIT's decision."CIT Aerospace President Jeffrey Knittel said: "Market demand for the AirbusA320 family remains consistently high and the V2500 has a strong in-serviceperformance throughout our worldwide customer base. This additional investmentin IAE allows us to fully service the needs of our customers."CIT already has 33 V2500-powered aircraft in service with a further 10 on firmorder.The 22,000-33,000lb of thrust V2500-A5 is available in seven different thrustsettings to power the Airbus A319, A320 and A321 family of aircraft as well asthe A319 Corporate Jet.IAE is a multinational aero engine consortium whose shareholders comprise Pratt& Whitney (NYSE: UTX), Rolls-Royce (RR.L.), the Japanese Aero EnginesCorporation and MTU Aero Engines. More than 1,050 V2500-powered aircraft havebeen delivered and the worldwide fleet has accumulated over 33 million flyinghours.For further information, please contact:Neil Williams, Director, CommunicationsInternational Aero EnginesTel: +1 (860) 565 1773 Email: [email protected]: +1 (860) 565 6111 Website: www.iaenews.com InformationIAE International Aero Engines AG 400 Main Street, East Hartford, CT 06108 USA Telephone: +1 (860) 565-5515 Fax: +1 (860) 565-0600 www.I-A-E.com IAE International Aero Engines AG is incorporated in Switzerland with limited liability and has its registered offices at Stampfenbachstrasse 73, 8035 Zurich, Switzerland ENDROLLS-ROYCE GROUP PLCRelated Shares:
Rolls-Royce