Press Release
SALE Adds Next-Generation B737 to Portfolio with Air Berlin Deal
15 Nov 2001
Singapore Aircraft Leasing Enterprise (S.A.L.E.) has added the Boeing Next-Generation 737 series to its portfolio for the first time, following the completion of a purchase and leaseback agreement for two B737-800s with German carrier Air Berlin. The acquisition is part of a joint deal with Boullioun Aviation Services, which saw the US lessor also acquire two aircraft of the same type from the airline.
All the aircraft acquired by S.A.L.E. and Boullioun were delivered new to Air Berlin in 1998 and are operated on routes linking German cities with destinations in Southern Europe and North Africa. The deal is S.A.L.E.’s first transaction with Air Berlin, while Boullioun already has two B737-800s on lease to the airline. Altogether, Air Berlin operates a total of 22 B737-800s and five B737-400s.
Financing for the S.A.L.E. portion of the deal was successfully completed on 9th November, under a 12 year loan arrangement with Crédit Agricole Indosuez, DGZ.Dekabank Deutsche Kommunalbank and Norddeutsche Landesbank.
Robert Martin, Managing Director of S.A.L.E., said that the company was proud to be entering a new business relationship with Air Berlin, while at the same time diversifying its aircraft portfolio.
“With astute management, a focussed route structure and strong links with major tour operators, Air Berlin is well placed to develop further as a leading player in the German charter market,” he said. “Meanwhile, the B737NG series will further strengthen the S.A.L.E. asset base, which primarily comprises new generation aircraft types offering higher than average long term residual values.”
Established in 1993, S.A.L.E. has swiftly grown to become the world's leading Asiabased aircraft leasing company, with a portfolio of 40 modern aircraft and 21 customers worldwide. The company also has 32 aircraft on firm order for delivery from Airbus and Boeing between now and 2008.
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For further information, please contact:
Sean LEE
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