Rolls-Royce secures double Trent order from CIT Aerospace

Rolls-Royce has signed a deal for two versions of the Trent engine family with CIT Aerospace, a unit of CIT Group Inc. (NYSE: CIT), and a leading global provider of commercial and consumer finance solutions. CIT Aerospace is purchasing the Trent 700 to power four firm and seven option Airbus A330s, and the Trent 1000 for two firm Boeing 787s on order and options to equip three additional 787s.

The contract is potentially worth up to $560 million at list prices.

The deal for the Trent 700s includes an order for engines to power two A330s that have been placed by CIT Aerospace with the Hainan Airlines Group of China, as announced in August 2006.

To date CIT Aerospace has taken delivery of eight Trent 700 powered A330s, leased to Edelweiss, Etihad, JMC, and Iberworld.

Mark King, Chief Commercial Officer, Civil Large Engines at Rolls-Royce, said: “CIT is an established and valued customer and we welcome this opportunity to expand our business partnership with them. We view this double order from CIT as an endorsement of the Trent product line, and our strategy of optimising each type of Trent for its respective aircraft. Through constant development and the use of innovative technologies, each Trent engine is tailored for its specific aircraft application. This results in high performance engines with class-leading economics that are also engineered to minimise environmental impact.”

Jeff Knittel, President, CIT Aerospace, added: “The Trent has proven to be a reliable engine family combining high performance and low operating costs. More than 50 percent of airline customers that lease an A330 have chosen the Trent 700. Their inclusion in our portfolio enhances our product offering to customers.”