Probably nothing in the short term. Those that are out on active lease are valuable income generators for the company and will continue to do so while they are under bankruptcy protection. The longer term depends on whether CIT survives and emerges from bankruptcy. It is possible that some of the freight cars in storage will be sold off to generate cash and stem the negative cash flow due to storage fees. The older ones probably would be bought by scrappers since nobody else will be interested in buying a fleet that does nothing and keeps costing money.
John
CIT also has a considerable freight car fleet, 62,273 as of January 2008 (Source: January 2008 ORER).
"No soup for you!" - Yev Kassem (from Seinfeld)
With CIT filling for bankrupcy, anyone know what will happen to th locomotives they own. Like the GP-20D's.
Ungern
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