CIT Aerospace Delivers Two Airbus A320s to Air 2000.Business Editors NEW YORK--(BUSINESS WIRE)--Nov. 7, 2000 CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. Aerospace, a business unit of CIT's Capital Finance operating group (NYSE NYSE See: New York Stock Exchange :CIT) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CIT.U), today announced that it took delivery of its first two new Airbus A320s with CFM (Cubic Feet per Minute) The measurement of air flow. Cooling fans are rated in CFM. 56-5B4/P engines. The two aircraft were leased to Air 2000, a UK based charter airline, with the first A320 (serial No. 1306) delivered on October 23 and the second aircraft (serial No. 1320) on November 3. "CIT Aerospace is particularly pleased to add Air 2000 to its growing customer base," said C. Jeffrey Knittel, president of CIT Aerospace. "Our ability to offer operating leases Operating Lease A lease contract that allows the use of an asset, but does not convey rights similar to ownership of the asset. Notes: An operating lease is not capitalized it is accounted for as a rental expense. for a wide spectrum of Airbus aircraft provides additional value to our international airline customers like Air 2000," added Knittel. Commenting on their partnership with CIT, Ken Smith, Managing Director of Air 2000 said, "Our company is extremely pleased to lease these two A320s from CIT, as they are one of the most respected and experienced leasing and financing companies in the industry. This order is significant for us, as these two new aircraft are part of our fleet renewal program," added Smith. Now in its thirteenth year, Air 2000 has established itself as a leading European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. leisure airline. The airline's growth has been consistent and steady. The fleet has a total of 27 aircraft and is the third largest UK leisure airline, operating 30,000 flights a year. Air 2000 flies from fifteen regional airports in the UK and Ireland-- carrying nearly seven million passengers--to more than fifty destinations around the world. About CIT Aerospace has more than 90 airline customers worldwide and a portfolio of more than 300 commercial aircraft from all major aircraft manufacturers. CIT Aerospace, a business unit of Capital Finance, a CIT operating group, offers customized leasing and financing packages for new and used aircraft with a special focus on operating leases for commercial airlines worldwide. For more information visit www.citaerospace.com Founded in 1908, The CIT Group (www.cit.com) is the world's largest publicly held commercial finance company, with over $50 billion in managed assets. Fortune magazine named CIT one of America's Most Admired ad·mire v. ad·mired, ad·mir·ing, ad·mires v.tr. 1. To regard with pleasure, wonder, and approval. 2. To have a high opinion of; esteem or respect. 3. Company's in February 2000. InformationWeek magazine ranks CIT No. 2 in its annual survey of top 500 companies using innovation in IT. |
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