Press Release

SALE Signs Lease Agreements with British Mediterranean

17 Oct 2002

Singapore Aircraft Leasing Enterprise (SALE) has signed agreements with British Mediterranean Airways for the lease of one Airbus A320 and one A321, as well as the extension of the lease on one A320 in service with the carrier since April 2000.

The first new aircraft, an A320 currently in production at Airbus, will be delivered in February next year, with the A321 following in April 2004. Both aircraft will be leased on 10 year terms, while the carrier’s existing SALE A320 lease has also been extended to 10 years.

The aircraft will be powered by IAE V2500 engines and will fly on the carrier’s network of scheduled services to the Middle East, Central Asia and Africa, operated under a franchise agreement with British Airways.

Des Hetherington, Chief Executive, British Mediterranean Airways, said: “This agreement to lease an additional two A320 family aircraft from SALE reflects our satisfaction with our continuing business relationship. The partnership between our company and SALE is very strong, and one which will endure for many years to come.”

Robert Martin, Managing Director of SALE, said that the company was pleased to be able to play a continuing role in the development of the UK carrier.

British Mediterranean has established itself as a leader in the field of international franchise operations, steadily and efficiently developing new routes on behalf of British Airways,” he said. “We are proud to have been involved in this operation and look forward to maintaining a long term partnership with the carrier.”

Established in 1993, SALE has swiftly grown to become one of the world’s leading aircraft leasing companies. Altogether, the company’s portfolio now comprises 43 modern aircraft, with another 30 on order for delivery through to 2008. Offering true global coverage, SALE has offices in Singapore, London, Washington D.C. and San Diego, California.

British Mediterranean Airways is an independent UK scheduled airline operating under a franchise agreement with British Airways to twelve destinations in eleven countries throughout the Middle East, Central Asia and Africa, from its London Heathrow base. The airline commenced operations in 1994 and became British Airways’ sole long haul franchise partner following a joint agreement in 1997.