Boeing Logs Order from Leasing Group for 38 New Jets

Jan. 5, 2011
Largest order yet for extended-range model 737

CIT Group Inc., a commercial finance company, has ordered 38 737 Next-Generation jets from Boeing Commercial Airplanes, and taken purchase rights for seven more 737s. In their joint announcement Boeing and CIT indicated it is the largest order to date for the commercial leasing agency, as well as the largest order yet for the 737-900ER, the “extended range” version of the new model 737.

"This order of Next-Generation Boeing aircraft reflects our efforts to maintain one of the youngest and most technologically advanced fleets in the industry," stated CIT’s president for Transportation Finance, C. Jeffrey Knittel. "As a leading aircraft lessor, it is important that we continue to maintain a portfolio of operationally dependable and fuel-efficient aircraft for our customers."

CIT owns or finances more than 300 commercial aircraft, including 140 Boeing jets. It has order in place for 111 aircraft, of which 58 will be Boeing designs.

The new order covers 15 737-900ER jets and 23 737-800 planes. The deliveries for this order extend into 2017.

The Boeing 737NG is a group of narrow-body airliners produced since 1996. The 737-800 carries 162-189 passengers, depending on the cabin configuration, and it is frequently taken by commercial airlines as a replacement for Boeing 727 jets.

The 737-900ER is the latest and the largest model of the Boeing 737 line, with a flight range of 5,510 nautical miles and capacity for 180-215 passengers, depending on cabin configuration. Boeing has taken nearly 250 orders for the 737900ER since 2006.

"CIT's choice of the Next Generation 737 shows its confidence in the product family and especially in its newest member, the 737-900ER, which features incredible economics and operational capability," stated Marlin Dailey, vice president of Sales & Marketing for Boeing Commercial Airplanes.

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