Bloomberg reported CIT Group fell in New York trading after incoming Chief Executive Officer Ellen R. Alemany outlined plans to cut costs and boost the commercial lender’s profitability, while offering little new information on the divestiture of its aircraft leasing business.

Bloomberg noted that in a call with analysts, Alemany said the firm is still weighing options for the sale or spin off its $10 billion aircraft leasing business, which it has been exploring since October. The bank said it hopes to have a deal completed by year-end.

Bloomberg quoted an analyst at Drexel Hamilton as saying in a phone interview, “From the outside, it seems like the preparation work to sell or spin off the commercial aircraft leasing business is taking a lot of time.”