CIT, a division of First Citizens Bank, announced that its Aerospace, Defense and Government business provided financing for seven leased helicopters managed by Thora Capital.
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The helicopters, used for emergency medical transport services, are on long-term lease to Apollo Medflight, which provides emergency transport services on behalf of regional and community hospitals in six midwestern and southern states.
“The helicopters play a critical role in quickly and effectively transporting sick and injured patients to medical facilities with specific capabilities to treat their conditions,” said Russell Christopher, Managing Director at Thora Capital. “We were pleased to leverage CIT’s industry knowledge and expertise in this specialized sector to finance these assets.”
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“Thora Capital is well known throughout the industry as an experienced investor in helicopters and other specialized transportation assets,” said John Heskin, managing director and group head for CIT’s Aerospace, Defense and Government business. “We worked closely with them to understand their objectives and develop the right financing package to meet their needs.”
CIT’s Aerospace, Defense & Government Services group, part of the Commercial Finance division, provides integrated financial solutions for manufacturers, suppliers and service providers in the aerospace, defense, homeland security and government services markets.
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