Press Release

SALE Orders 40 More Single Aisle Aircraft

08 Jan 2007

Singapore Aircraft Leasing Enterprise (SALE) has placed firm orders with Airbus and Boeing for 40 more single aisle aircraft. The deals comprise an entirely new order with Airbus for 20 A320 Family aircraft and the exercise of 20 existing options and purchase rights with Boeing for the Next-Generation 737 series. All 40 aircraft will be delivered between the second quarter of 2009 and the first quarter of 2012.

An engine selection for the new Airbus aircraft has yet to be made. However an ongoing evaluation between competing products offered by CFM International and International Aero Engines (IAE) will be completed in the first quarter of 2007. As with all Next-Generation 737s, the new Boeing aircraft will be powered by engines from CFM International.

The new orders placed by SALE are the first since the company was acquired by Bank of China in December 2006 and underscore the commitment by the bank to accelerate the expansion of the Singapore-based lessor. This will see the company evaluate further aircraft acquisitions in the near future, including widebody types.

Robert Martin, Chief Executive Officer of SALE, said that the new orders reflected the ongoing strong demand for single aisle aircraft from both Airbus and Boeing, which continues to exceed supply.
 
"SALE has already placed almost all the aircraft from its existing orders for delivery through to the end of 2009, which is a measure of the sustained demand in the leasing market," he said. "We are therefore extremely pleased to have been able to secure additional delivery slots for both the Airbus and Boeing single aisle products, which will remain the workhorses of short haul fleets well into the next decade."

SALE is the leading Asia-based aircraft leasing company, with a current portfolio of 75 modern aircraft. Following today's announcement, the company now has an additional 67 aircraft on firm order, comprising 20 A320s and 47 737s.