SALE Completes B777 Firm Order Deliveries
01 Oct 2002
Singapore Aircraft Leasing Enterprise (SALE) has today taken delivery of the last of six B777s on firm order with Boeing, at the manufacturer’s Seattle flight line. The aircraft, a 380 seat B777-300 bearing serial number 29064, is being leased to Dubai-based Emirates Airline on a 10 year term.
SALE is one of only three operating lease companies working in the widebody B777 market, having selected the aircraft in October 1997 as part of a joint order with shareholder Singapore Airlines. The delivered fleet comprises two 300 seat long range B777-200ERs and four of the higher capacity B777-300s, all of which were placed with airlines in advance of delivery on 10 – 12 year terms.
In addition to aircraft directly purchased from Boeing, SALE has also acquired four other B777-200ER aircraft from airlines through purchase and leaseback transactions. Of these, three have since been sold, reflecting the proven investment value of the B777.
Robert Martin, Managing Director of SALE, said that the inclusion of the B777 in the SALE portfolio had contributed significantly to the success of the company in recent years.
“The B777 has clearly demonstrated its popularity not only with airlines and their passengers, but also with the financial and investment communities,” he said. “It has played an important role in establishing SALE as one of the key players in the new widebody aircraft market, which will remain a key business area for the company moving forward.”
Boeing aircraft currently form the core of the SALE widebody portfolio, with the company having acquired a total of 16 B767, B777 and B747 aircraft since its inception in 1993. Apart from the B777, the current fleet includes two B747-400 Freighters, while the company also manages two B767-300ERs on behalf of a group of investors. The SALE single aisle portfolio also includes Boeing products, with B737 Classic and Next Generation B737-800 aircraft acquired on the open market.
SALE has swiftly grown to become one of the world’s leading aircraft leasing companies. With the addition of the latest B777, the company’s portfolio now comprises 44 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.
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