Transportation finance company CIT Group Inc. has ordered 10 Embraer 190 and/or Embraer 195 jets and has signed commitments for up to 20 more....

Transportation finance company CIT Group Inc. has ordered 10 Embraer 190 and/or Embraer 195 jets and has signed commitments for up to 20 more.

Deliveries of New York-based CIT Group’s Embraer E-Jets are scheduled through 2015.


The E-Jets will enter the leasing and financing portfolio of CIT Group unit CIT Aerospace, one of the world’s largest aircraft-leasing companies. CIT owns or finances a fleet of approximately 300 commercial aircraft.

On November 7, 2011, transportation finance company CIT Group ordered 10 Embraer 190s and/or Embraer 195s for its aircraft-leasing unti CIT Aerospace. CIT Group also signed commitments for up to 20 more Embraer E-Jets. The agreement represented CIT Group's first direct order for Embraer E-Jets

“Embraer is very pleased to have such an important lessor as CIT Aerospace joining the E-Jets program,” says Paulo Cesar de Souza e Silva, Embraer’s president, Commercial Aviation. “After more than 1,000 firm orders, spread over 60 operators in 40 countries, this investment by CIT is further confirmation that the E-Jets have achieved a high level of attractiveness for the top-tier investor community.”

“We are pleased to announce our first direct order with Embraer for the E190/E195 aircraft, which will enable CIT Aerospace to offer an even more diverse set of products to its customers,” says Jeffrey Knittel, president of Transportation Finance at CIT Group. “This order allows CIT Aerospace to continue to maintain one of the youngest and most technologically advanced fleets in the industry and will help us meet our customers’ increased demand for this size of aircraft.”

The Embraer 190 and the Embraer 195 are the two largest models of the four-member E-Jets family and entered service respectively in August 2005 and July 2006.

The jets can be configured in one or two classes, seating from 98 to 122 passengers in a four-abreast (2-2), no-middle-seat configuration, and can fly up to 2,400 nautical miles (4,450 kilometers) nonstop.