Thu, Oct 26, 2006
Leasing Company CIT Aerospace Latest 787 Customer
Boeing announced Thursday the identity of a previously unnamed
customer for five of its upcoming 787 Dreamliners. Leasing company
CIT Aerospace is expected to take delivery of the first of its
787-8s in 2012, in an order valued at approximately $765 million
list.
"Boeing is pleased that CIT Aerospace, with its market depth and
experience, will bring the benefits of the 787 to a widening
operator base," said John Feren, vice president of Sales, Boeing
Commercial Airplanes. "CIT's commitment demonstrates the continued
confidence of the financial community in the 787's state-of-the-art
technology and breakthrough economics."
"With its broad market acceptance, the Boeing 787 has all the
attributes of an ideal operating lease aircraft," said Jeff
Knittel, president of CIT Aerospace. "We appreciate Boeing's
efforts in structuring a deal that will bring the benefits of this
leading technology aircraft to both CIT's customers and
shareholders."
Boeing says the 787 Dreamliner will use 20 percent less fuel
than today's airplanes of comparable size, provide airlines with up
to 45 percent more cargo revenue capacity and present passengers
with ground-breaking innovations including an improved interior
environment, wider seats and aisles, larger windows and other
benefits. The 787's lightweight composite structure makes many of
these advances possible.
The 787 Dreamliner has been a winner for Boeing, a year before
the first plane is scheduled to fly. Boeing has accumulated 455
orders for the 787, and commitments from 36 airline and leasing
customers around the world. Development of the 787 is currently on
schedule for first flight in 2007 and entry into service in
2008.
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, defense, and homeland security industries. CIT
Aerospace manages a fleet of more than 300 commercial, regional and
business aircraft leased and financed to over 100 airlines around
the world.
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