CIT bankrolls LCI's purchase of AW139 helicopters

London
Source: Flightglobal.com
This story is sourced from Flightglobal.com

CIT Transportation Lending has stepped up financing for Lease Corporation International's (LCI) purchase of three AgustaWestland AW139 helicopters.

The units are on lease to UK-based Bond Helicopters and Malaysia-based Weststar Aviation, according to the lender's parent company, CIT Group.

LCI increased its orderbook with the Anglo-Italian airframer by adding three AW169s, five AW139s and two AW189s at the Paris air show last month. The lessor entered the rotorcraft leasing market in 2012 with a $400 million order with AgustaWestland.

CIT Transportation Lending structured and facilitated the transaction, while financing was provided by CIT Bank, the commercial bank subsidiary of CIT.

Terms of the transaction were not disclosed.