CIT Group's transportation finance division, which covers funding for aircraft, locomotives and railcars, reported a 35% increase in pre-tax third quarter earnings to $129.3 million compared with the prior-year quarter.
The finance group says in an earnings statement today the improved results reflect "asset growth and lower funding costs".
Equipment utilisation "remained strong" with 99% of commercial air equipment on lease or under a commitment at 30 September, says CIT.
All but two of the 18 aircraft scheduled for delivery in the next 12 months have lease commitments.
New business volume of $563 million includes the addition of six aircraft to the operating lease portfolio, and nearly $200 million of loans across the transportation division.
The parent company, CIT Group, reported a loss of $305 million for the quarter.