CIT and Rolls-Royce Finalize Agreement for Trent 7000 Engines for Airbus A330-900neo Family Aircraft

  CIT and Rolls-Royce Finalize Agreement for Trent 7000 Engines for Airbus
  A330-900neo Family Aircraft

Farnborough International Airshow 2014

Business Wire


CIT Group Inc.(NYSE: CIT), a globalleader in transportation finance, and
Rolls-Royce today announced from the Farnborough International Air Show that
they signed a definitive agreement for 15 shipsets of Trent 7000 engines to
power CIT’s recent order of 15 Airbus A330-900neo (new engine option) family
aircraft. Deliveries are initially scheduled to begin in 2018.

“These newly designed engines, which will power our recent order of
A330-900neo aircraft, will provide increased fuel efficiency to our customers
and ensure that we continue to maintain one of the most technologically
advanced fleets in the industry,” said Jeff Knittel, President of CIT
Transportation & International Finance.

Eric Schulz, Rolls-Royce, President, Civil Large Engines, said, “We are
delighted to sign this agreement with CIT for our newly-launched Trent 7000
engine. We look forward to delivering outstanding engine performance and
reliability to a customer that has already selected three other Trent engine

The new Trent 7000 engine brings together:

  *Experience from the Trent 700 - the engine of choice for the current A330;
  *Architecture from the Trent 1000-TEN - the latest version of the Trent
    1000 engine;
  *Latest technology from the Trent XWB - the world’s most efficient large
    civil engine.

The 68-72,000lb thrust Trent 7000 will deliver a step change in performance
and economics compared to the current version of the Trent 700. It will
improve specific fuel consumption by ten per cent; have twice the bypass
ratio; and will halve perceived noise.

The first engine test run for the Trent 7000 is planned for 2015 with
certification expected in 2017, supporting an aircraft entry into service in
the fourth quarter of 2017. The engine design draws upon existing
architectures and expertise which are the result of ongoing research and
development investment, of approximately £1bn a year, which Rolls-Royce makes
across its aerospace and non-aerospace businesses. Each previous member of the
Trent engine family has been either the market leader, aircraft launch engine,
or both.

CIT is one of the world’s leading aircraft leasing organizations and provides
leasing and financing solutions — including operating leases, capital leases,
loans and structuring, and advisory services — for commercial airlines
worldwide. It owns and finances a fleet of more than 300 commercial aircraft
and has more than 100 customers in approximately 50 countries.

About Rolls-Royce Holdings plc

Rolls-Royce is a world-leading provider of power systems and services for use
on land, at sea and in the air. The company has customers in more than 120
countries, comprising more than 380 airlines and leasing customers, 160 armed
forces, 4,000 marine customers, including 70 navies, and 1,600 energy and
nuclear customers. Rolls-Royce is a technology leader, employing 55,000 people
in offices, manufacturing and service facilities in 45 countries.

About CIT Aerospace

CIT Aerospace provides customized leasing and secured financing to operators
of commercial and business aircraft. Our financing services include operating
leases, single investor leases, leveraged financing, sale and leaseback
arrangements, as well as loans secured by equipment.

About CIT

Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than
$35 billion in financing and leasing assets. It provides financing, leasing
and advisory services to its clients and their customers across more than 30
industries. CIT maintains leadership positions in middle market lending,
factoring, retail and equipment finance, as well as aerospace, equipment and
rail leasing. CIT’s U.S. bank subsidiary CIT Bank (Member FDIC),, offers a variety of savings options designed to help customers
achieve their financial goals.


CIT - Farnborough
C. Curtis Ritter
Senior Vice President of Corporate Communications
+1-917-328-6977 (M)
+1-973-740-5390 (O)
Matt Klein
Vice President, Media Relations
Barbara Callahan
Senior Vice President
+1-973-740 -5058
Press spacebar to pause and continue. Press esc to stop.