Press Release

Issued by .

May 20, 2014

CIT Aerospace, a global leader in aircraft finance, today announced from the 14th Annual European Business Aviation Conference and Exhibition (EBACE) that it completed a Sharia-compliant refinancing of a pre-owned Airbus ACJ319 for a Saudi Arabian-based client.

“While CIT has a track record of financing many business aircraft clients across the Middle East and Gulf regions, this is the first very large cabin business aircraft that we have financed in Saudi Arabia,” said Mike Kahmann, managing director and group head, CIT Business Aircraft Finance.

Graeme Shanks, vice president of sales, added, “Our client was looking for a Sharia-compliant funding solution without any requirement for private wealth, assets under management or a wider banking relationship. We continue to see opportunities across the region, where there is a burgeoning demand for financing in the medium to large cabin sector.”

CIT Business Aircraft Finance has served the corporate aircraft sector for more than 25 years and is considered among the world's premier financial services organizations with extensive international aircraft financing expertise.

CIT is pleased to welcome visitors at its booth #6143 during the Exhibition.