Boston, MA 05/21/2014 (wallstreetpr) – CIT Group Inc. (NYSE:CIT) on May 13, 2014 announced that it would lease 24 new aircrafts. CIT Group and Delta Air Lines entered into an agreement to leaseback and own 24 new aircrafts. The company already made an order of 14 Bombardier CRJ900s and 10 Boeing 737-900Ers from Delta Air Lines Inc (NYSE:DAL). While the Boeing 737-900Ers will continue to be operated from Delta, the Bombardier CRJ900s, on the other hand, will have their operations from Endeavor Air, Delta connection carrier. As of now, the delivery of six aircrafts has been made by each division and the rest of the 12 aircrafts will be delivered by the end of 2014.
Statement from the Senior Vice President
John Morabito, the Senior Vice President, Financial Institutions Group, CIT Group announced that he was glad over the agreement and that it would help in stronger relations between CIT Group and Delta. He also explained that the Delta Airlines understood the requirements of both, business travelers as well as leisure travelers.
Furniture Segment of CIT Group Focussed Now
The CIT Group Inc. (NYSE:CIT) will now focus on the furniture segment of the company. The company’s furniture personnel of the middle market anticipate that after several years of slow growth, the company will have a strong comeback in this department. The President of the Commercial Service of CIT Group Inc. (NYSE:CIT), Jon Lucas hoped that the company would expect a strong demand in the housing market now. However, there are a lot more challenges. Various customers in the U.S. have, as of now, kept their furniture purchase at a bay because of the growth in the housing market as well as enhancement in employment percentage. There may be several other challenges such as uneven rules, adjustments from exporter to manufacturer and difficulty in on-shoring the furniture back.
Nevertheless, the company’s furniture segment is bound to bounce back, as per the personnel of CIT Group.
