March 10, 2015 / 5:15 PM / 3 years ago

CIT urges planemakers to 'go slow' in raising jet output

PHOENIX, March 10 (Reuters) - The head of the transportation finance arm of commercial lender CIT has urged planemakers Airbus and Boeing to be cautious about raising aircraft production.

The warning comes as planemakers prepare to ramp up medium-haul jet output to record levels and contrasts with fresh signs that manufacturers are considering expanding their output goals, amid a battle for orders worth $2 trillion over 20 years.

“I would suggest ‘go slow,’ but I certainly understand why they want to take rates up and capture (market) share,” Jeff Knittel, president of CIT Transportation and International Finance said.

Speaking on the sidelines of a conference hosted by the International Society of Transport Aircraft Trading (ISTAT), he also said CIT was looking at a possible purchase of a long-range version of the Airbus A321 but declined to discuss details. (Reporting by Tim Hepher, editing by Louise Heavens)

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