UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 22, 2011 (June 21, 2011)

CIT GROUP INC.
(Exact name of registrant as specified in its charter)

11 West 42^nd Street
New York, New York 10036
(Address of registrant's principal executive office)

Registrant's telephone number, including area code: (212) 461-5200

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Section 1 – Registrant’s Business and Operations

Item 1.01. Entry Into a Material Definitive Agreement.

     On June 21, 2011, C.I.T. Leasing Corporation, a wholly owned subsidiary of CIT Group Inc. doing business as CIT Aerospace, entered into a memorandum of understanding with Airbus S.A.S. to acquire fifty new A320neo family aircraft. The total value of the 50 A320neo aircraft based on current manufacturer’s list prices is approximately $4.1 billion. Actual purchase prices at delivery will be lower than the list prices based upon available discount levels, offset by price escalators based on changes in certain specified price indexes, and will be further affected by the aircraft specifications. The actual purchase prices are subject to confidentiality agreements with Airbus S.A.S. Deliveries of the aircraft are scheduled for 2016 through 2019 and are in addition to pending orders under previous purchase agreements for Airbus A320 family, A330, and A350 aircraft.

     In conjunction with the aircraft order, CIT Aerospace announced that it has selected PurePower PW1100 engines from Pratt & Whitney to power 30 of the A320neos and LEAP-X1A engines from CFM International to power 15 of the A320neos. In addition, CIT Aerospace obtained options for up to 20 additional shipsets of installed PW1100 engines and up to 10 additional shipsets of installed LEAP-X1A engines. The prices of the Pratt & Whitney and CFM engines are included in the purchase prices of the A320neo family aircraft referenced above.

Section 9 – Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits.

(c) Exhibits.

Forward-Looking Statement

     This document contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements (including statements regarding future financial and operating results) involve risks, uncertainties and contingencies, many of which are beyond CIT's control, which may cause actual results, performance, or achievements to differ materially from 71 anticipated results, performance, or achievements. All statements contained in this document that are not clearly historical in nature are forward-looking, and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. Economic, business, funding market, competitive and/or regulatory factors, among others, affecting CIT's businesses are examples of factors that could cause actual results to differ materially from those described in the forward-looking statements. More detailed information about these factors are described in CIT's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2010. CIT is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: June 22, 2011

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