Boeing clinch $1.3 billion order

CIT Aerospace has placed an order for 20 Next Generation 737-700 and five 757-300 aircraft from Boeing in deal estimated to be worth more than $1.3 billion.

CIT Aerospace, a division of The CIT Group has placed a firm order for 20 Next-Generation 737-700 and five 757-300 airplanes from Boeing. In addition, CIT has taken options for five additional 757-300s. The value of the new airplanes on firm order is estimated at more than $1.3 billion.

CIT is said to be the first lessor to offer the newest member of the Boeing 757 family, which has the lowest seat-mile costs of any single-aisle jetliner.

CIT’s new 757-300s are expected to be delivered during the spring of 2003 and the spring of 2004, while the 737-700s will be delivered over a three year period beginning in March 2003.

CIT are said to retain substitution rights on the 737-700s for other models of the Next-Generation 737 family: the smaller 737-600, the larger 737-800 or 737-900.

‘These orders are a testimony to the continued popularity and broad customer base of the 757 and 737 products,’ said Nicole Piasecki, vice president – Leasing Sales, Boeing Commercial Airplanes. ‘Both the 757-300 and the Next-Generation 737s combine highly efficient operating economics and passenger-pleasing interiors providing our lessors’ customers an optimum return on investment.’

According to a statement from Boeing, the 757-300 has established an excellent record for in-service reliability. In its first year of revenue service with launch customer Condor Flugdienst, it achieved a record setting dispatch-reliability rate of 99.64 percent.

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