Press Release

SALE & Boullioun Team Up with Finnair for A320 Acquisition

13 Dec 2001

Singapore Aircraft Leasing Enterprise (S.A.L.E.) and US partner Boullioun Aviation Services have announced their first business agreements with Finnish national carrier Finnair, covering the purchase and leaseback of three new Airbus A320 aircraft. 

All three aircraft will be delivered from Airbus to the Helsinki-based airline in the first quarter of 2002, with immediate transfer of ownership of two of the aircraft to Boullioun and one to S.A.L.E. The aircraft will be leased back to the airline on a long term basis.

The deal with Finnair represents the third joint purchase and leaseback transaction to be successfully concluded by S.A.L.E. and Boullioun since September this year, following similar agreements for two A320s with Aero Lloyd and four B737-800s with Air Berlin.

“We appreciate the professionalism and expertise of S.A.L.E. and Boullioun in committing to these transactions in the post-September 11 environment,” Finnair Senior Vice President and Chief Financial Officer Petri Pentti said. “As a result we are taking delivery of our new aircraft as planned, while at the same time increasing our financial flexibility and funding sources."

“We are pleased to welcome Finnair to our customer base and look forward to a mutually beneficial long term partnership,” said Robert Martin, Managing Director of S.A.L.E. “This latest agreement demonstrates once again the win-win situation which can be achieved for both airlines and lessors through purchase and leaseback transactions.”

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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Photograph available on request