Singapore Aircraft Leasing Enterprise (SALE) has taken delivery of the first of 30 Next-Generation 737 aircraft on order with Boeing. The 737-800 was handed over to SALE at the Boeing delivery centre in Seattle and will be operated by Kenya Airways under a long-term operating lease agreement. SALE is leasing three 737s to the Nairobi-based carrier, with the next two aircraft scheduled for delivery in November and December.

Although the SALE portfolio already includes Next-Generation 737s purchased from airlines, the Kenya Airways aircraft is the first to be delivered directly from Boeing. Deliveries of all the aircraft on firm order will take place between now and the end of 2010. Reflecting the strong near-term demand for single aisle aircraft such as the 737, all aircraft for delivery through to early 2008 have already been placed with airlines.

Robert Martin, Managing Director and Chief Executive Officer of SALE, said that the decision by SALE to acquire the Next-Generation 737 had enabled the company to diversify its portfolio and expand its customer base.

"Since placing our first order with Boeing in May 2005 demand for the Next-Generation 737 has been strong," he said. "The timing of our deliveries to coincide with the market upturn has meant that we have been able to lease the aircraft well in advance of deliveries with high quality airlines."

"Kenya Airways is one of the leading airlines from the African continent and a new customer for SALE. We are pleased to be able to play a role in the carrier's fleet development programme and look forward to a long and mutually beneficial partnership with the airline."

Larry Dickenson, Vice President of Sales -- Boeing Commercial Airplanes, said, "This is an important step in our relationship with Singapore Aircraft Leasing Enterprise. It is an honor to work with SALE to bring the superior economics, operational flexibility and high reliability of the 737 family to new and existing customers throughout the world."

SALE is the leading Asia-based aircraft leasing company, with a current portfolio of 82 aircraft in service with 32 airlines worldwide. In addition to its firm orders with Boeing, SALE also holds options and purchase rights for another 20 aircraft from the 737 series.

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