UPDATE: Stifel Downgrades CIT Group (CIT) to Hold

Avolon to Acquire Aircraft Leasing Business of CIT Group

Combined fleet of 910 aircraft with value of over US$43 billion

DUBLIN & HONG KONG--(BUSINESS WIRE)-- Avolon Holdings Limited, the international aircraft leasing company, and a wholly owned subsidiary of Bohai Capital Holding Co., Ltd. (Bohai), the equipment and transportation lessor listed on the Shenzhen Stock Exchange (SLE: 000415), announces an agreement to acquire the aircraft leasing business of CIT Group Inc. (NYSE: CIT) (the Transaction). The Transaction will create a leading aircraft leasing business with an owned, managed and committed fleet of 910 aircraft valued at over US$43 billion.... More