The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Business Wire

“CIT: Behind the Deal” Video Examines Sunwing Airlines Relationship

<p class='bwalignc'> <i>Client Case Study Testimonial Video Highlights “The Customer Experience”</i> </p>

Wednesday, September 19, 2012

“CIT: Behind the Deal” Video Examines Sunwing Airlines Relationship08:43 EDT Wednesday, September 19, 2012 NEW YORK (Business Wire) -- CIT Group Inc. (NYSE: CIT) cit.com, a leading provider of financing to small businesses and middle market companies, today released the next installment in its “CIT: Behind the Deal” (cit.com/behindthedeal) series of client case study testimonial videos that showcase how the lending, leasing, and advisory expertise of CIT executives has helped their clients achieve success. Damon D'Agostino, Chief Commercial Officer, CIT Aerospace This latest video features Sunwing Airlines, one of the leading, integrated leisure tour operators in Canada. The video examines how CIT Aerospace leased planes to Sunwing Airlines and helped the company develop its fleet strategy. In the video, Sunwing Airlines' President Mark Williams comments: “The aviation industry is a tough business in which to make money. You really have to pick your niche in order to do well in this marketplace. When we started the airline there was a tour operation already in existence. A part of our corporate credo is ‘Your vacation should start the minute you get to the airport.'” According to Damon D'Agostino, Chief Commercial Officer of CIT Aerospace, that approach is why Sunwing has been successful. “They know their clients value the customer experience,” says D'Agostino. “That's something we strongly identify with since our business is also based on relationships.” Williams adds, “We've grown quite a bit since 2005, from a relatively small regional company to a national Canadian operation. We have 1,700 employees now. We served more than 1.3 million passengers last year and are expecting to grow that number. There's absolutely no question that our business relationship with CIT has been a major factor in helping us to succeed.” D'Agostino adds, "When we delivered the first aircraft to Sunwing, Mark and I walked out and shook hands underneath the wing. That's a memory I'll always cherish. CIT really is a trusted advisor to Sunwing Airlines. Their success, ultimately, will be our success and we recognize that." “CIT: Behind the Deal” is the latest thought leadership initiative developed by CIT to highlight CIT executives' deep industry expertise and strong relationships. Individuals can also view and listen to exclusive interviews with CIT executives from CIT's award-winning CIT Executive Insights Video and Podcast Series at cit.com/executiveinsights. EDITOR'S NOTE: Follow us on Twitter: @citgroup, on Facebook: facebook.com/citgroup, and on LinkedIn: LinkedIn.com/company/cit. Individuals interested in receiving corporate news releases can register at cit.com/newsalerts or subscribe to the RSS feed at cit.com/rss About Sunwing Sunwing and Sunwing Airlines operate from more gateways in Canada than any other tourism provider to foreign sun destinations. With departures from 33 Canadian gateways to 48 destinations in 21 countries, Sunwing's strategy of operating direct flights from smaller urban areas to the major southern resort destinations enabled the company to expand its market substantially. The strategy took advantage of the size, range and economical operating costs of the Boeing 737- 800 series aircraft leased by Sunwing from CIT to successfully expand beyond Canada's major urban centers. Sunwing also operates from 3 US gateways to 3 countries allowing Sunwing to lead the way with convenient departures to some of the most popular vacation destinations. sunwing.ca CIT Aerospace As one of the world's leading aircraft leasing organizations, CIT Aerospace provides leasing and financing packages – including operating leases and structuring and advisory services – for commercial airlines worldwide. CIT Aerospace owns a fleet of approximately 335 commercial aircraft leased and financed to more than 115 customers in 55 countries. cit.com/aerospace About CIT Founded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $33 billion in finance and leasing assets. A member of the Fortune 500, it provides financing and leasing capital to its small business and middle market clients and their customers across more than 30 industries. CIT maintains leadership positions in small business and middle market lending, factoring, retail finance, aerospace, equipment and rail leasing, and global vendor finance. CIT also operates CIT Bank (Member FDIC), BankOnCIT.com, its primary bank subsidiary, which offers a suite of savings options designed to help customers achieve a range of financial goals. cit.com Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50412612&lang=en CIT MEDIA RELATIONS:C. Curtis RitterDirector of Corporate Communications(973) 740-5390Curt.Ritter@cit.comorMatt KleinVice President, Media Relations(973) 597-2020Matt.Klein@cit.comorCIT INVESTOR RELATIONS:Ken BrauseExecutive Vice President(212) 771-9650Ken.Brause@cit.com