Press Release

SALE Leases Last Three Aircraft for 2004 - Company Notes Market Upturn

22 Jun 2004

Singapore Aircraft Leasing Enterprise (SALE) has completed the placement of all its aircraft for this year, following the signature of leases for three used A320s.

Two of the aircraft (MSN 990 and MSN 1996) have been leased to independent Italian carrier Volare, while the third (MSN 1413) will be operated by Turkish national carrier THY. All three aircraft have been placed with the carriers on medium term leases and are being delivered this month. The deal with THY marks the first time that SALE has worked with the Turkish airline.

Robert Martin, Managing Director of SALE, said that the latest deals came as the company noted a clear upturn in demand for leased aircraft.

"Passenger traffic is on the rise in most major markets, creating demand for additional capacity especially in the 100-150 seat segment," he said. "This has seen the number of available aircraft decrease, which is good news for the leasing business in general."

In its core market, SALE estimates that industry-wide there are less than 15 used A320s  scheduled to come off lease between now and the end of the year and no new aircraft available from any source. The next SALE aircraft available for lease will be new A320s due for delivery in the first quarter of 2005.

Celebrating its 10th Anniversary this year, SALE is the leading Asia-based aircraft leasing company, with a portfolio currently comprising 60 modern aircraft with an average age of just five years. Offering truly global coverage, SALE now has 31 customers worldwide and from all segments of the airline industry, including full service, low cost, franchise and charter operators.

For further information, please contact:

Sean Lee
Tel: +65 6325 9557
Mobile: +65 96196549
[email protected]