CIT Executive Spotlight Examines Global Aviation Finance Trends
September 28 2015 - 8:30AM
Business Wire
The global airline industry currently has access to an abundance
of fragmented capital, but there may not be an equal abundance of
market awareness to adapt to potential changes in market
conditions. This fragmentation has served the industry well during
a period of significant growth and profits; however, due to the
cyclical nature of the global airline sector, this lack of market
awareness is leaving companies vulnerable to the next potential
downturn. These are some of the observations presented by John
Morabito, Group Head, Financial Institutions Group, CIT Commercial
Air & CIT Maritime Finance, divisions of CIT Group Inc.
(NYSE:CIT), a global leader in transportation finance, in “Global
Commercial Aerospace: Financing Trends” (www.cit.com/morabito), the
latest piece of market intelligence in the CIT Executive Insights
video series.
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John Morabito, Group Head, Financial
Institutions Group, CIT Commercial Air & CIT Maritime Finance
(Photo: Business Wire)
“As the industry reaches a peak, it’s crucial that global
airlines and financial institutions strategically and methodically
plan their growth and access to capital in order to protect their
economics before the sector enters a slowdown,” said Morabito. “In
order to better serve our clients in the face of this prospect, CIT
established a joint venture with Century Tokyo Leasing (CTL) that
combines CIT’s platform and asset management experience with CTL’s
unique capital backing and deep regional knowledge.”
Some of the other global aviation trends Morabito expands upon
include:
- Lack of focus on midlife
equipment: Capital providers and some carriers are missing
opportunities with midlife equipment, largely due to a lack of
knowledge and expertise in financing this type of asset.
- Opportunities in examining relative
value options: A partner that understands new and midlife
aircraft, technical considerations and regional nuances can assist
in the creation of a diverse portfolio of assets and
investments.
- Partnerships combine experience and
expertise: CIT and CTL’s joint venture pairs financing
solutions from CIT with CTL’s deep regional knowledge and unique
capital backing.
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About CIT Aerospace
As one of the world’s leading aircraft leasing organizations,
CIT Aerospace provides leasing and financing packages, including
operating leases and structuring and advisory services, for
commercial airlines worldwide. CIT Aerospace owns, finances and
manages a fleet of more than 350 commercial aircraft serving
approximately 100 customers in 50 countries. cit.com/aerospace
About CIT
Founded in 1908, CIT (NYSE:CIT) is a financial holding company
with more than $65 billion in assets. Its principal bank
subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender), has
more than $30 billion of deposits and more than $40 billion of
assets. It provides financing, leasing and advisory services
principally to middle market companies across more than 30
industries primarily in North America, and equipment financing
and leasing solutions to the transportation sector. It also offers
products and services to consumers through its Internet bank
franchise and a network of retail branches in Southern California,
operating as OneWest Bank, a division of CIT Bank, N.A. cit.com
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CIT MEDIA RELATIONS:C. Curtis Ritter, 973-740-5390Senior
Vice President of Corporate CommunicationsCurt.Ritter@cit.comorMatt
Klein, 973-597-2020Vice President, Media
RelationsMatt.Klein@cit.comorCIT INVESTOR RELATIONS:Barbara
Callahan, 973-740-5058Senior Vice
PresidentBarbara.Callahan@cit.com
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