Business

July 9, 2012

CIT, Pratt & Whitney finalize agreement for Airbus A320neo engines

CIT Group Inc., a global leader in transportation finance, and Pratt & Whitney, a division of United Technologies Corp., announced July 9 from the Farnborough International Air Show that they signed a definitive agreement for 60 PurePower PW1100G engines for CIT’s order of Airbus A320neo family aircraft.

This agreement follows the memorandum of understanding previously announced at the Paris Air Show in 2011. Deliveries are scheduled to start in 2016.

“Our customers tell us they want aircraft that help them dramatically reduce operating costs,” said Jeff Knittel, president of Transportation Finance at CIT. “The fuel-efficient PurePower® engines satisfy this customer demand while expanding the CIT portfolio with advanced technology.”

Each CIT Aerospace Pratt & Whitney-powered neo family aircraft will be powered by two PurePower PW1100G-JM engines with benefits including double-digit reductions in fuel burn, environmental emissions, engine noise and operating costs when compared with today’s engines.

“CIT is one of the leading leasing companies in commercial aviation and we are very proud that they chose to invest in the new PurePower engine family,” said Todd Kallman, Pratt & Whitney Commercial Engines president. “With fuel now accounting for around 40 percent of an airline’s operating expenses, PurePower engines can save CIT customers approximately $1 million per aircraft per year in fuel costs alone.”

The PurePower engine uses an advanced gear system allowing the engine’s fan to operate at a different speed than the low-pressure compressor and turbine. The combination of the gear system and an all-new advanced core delivers the fuel efficiency and environmental benefits.

CIT Aerospace provides leasing and financing packages – including operating leases and structuring and fleet management services – for commercial airlines worldwide. CIT Aerospace owns or finances a fleet of more than 325 commercial aircraft and serves approximately 115 customers in 55 countries.




All of this week's top headlines to your email every Friday.


 
 

 

Headlines April 24, 2015

News: More than $1 billion in U.S. emergency reconstruction aid goes missing in Afghanistan - A total of $1.3 billion that the Pentagon shipped to its force commanders in Afghanistan between 2004 and 2014 for the most critical reconstruction projects can’t be accounted for by the Defense Department, 60 percent of all such spending under an...
 
 

News Briefs April 24, 2015

German defense minister: widely used rifle has no future A widely used assault rifle has “no future” with the German military in its current form, Germany’s defense minister said April 22, escalating a dispute over the weapon’s alleged shortcomings. Ursula von der Leyen said last month that a study showed the G36 rifle has a...
 
 
Army photograph

Composites key to tougher, lighter armaments

Army photograph XM-360 test firing at Aberdeen Proving Ground, Md., in 2007, is shown. The Army is on the cusp of revolutionizing materials that go into armament construction, making for stronger, lighter and more durable weapo...
 

 

Northrop Grumman signs long-term agreement with Raytheon

Northrop Grumman has entered a long-term agreement with Raytheon to supply its LN-200 Inertial Measurement Unit for Raytheon optical targeting systems. The long-term agreement with Raytheon’s Space and Airborne Systems business extends through 2018. The LN-200 provides camera stabilization on optical targeting systems that conduct long-range surveillance and target acquisition for various...
 
 

NTTR supports first F-35B integration into USMC’s weapons school exercise

The Nevada Test and Training Range was part of history April 21, when four U.S. Marine Corps-assigned F-35B Lightning IIs participated in its first Marine Corps’ Final Exercise of the Weapons and Tactics Instructor course on the NTTR’s ranges. The Final Exercise, or FINEX, is the capstone event to the U.S. Marine Corps Marine Aviation...
 
 
AAR-Textron

AAR awarded new contract from Bell Helicopter Textron to support T64 engines

AAR announced April 22 that Bell Helicopter Textron Inc. awarded its Defense Systems & Logistics business unit a contract providing warehouse and logistics services in support of upgrading T64 engines for the Bell V-280 Val...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>