Press Release

SALE Leases Two A320 Aircraft to TAM of Brazil

21 Aug 2002

Singapore Aircraft Leasing Enterprise (SALE) has entered agreements with Brazilian carrier TAM Linhas Aereas covering the lease of two new A320 aircraft.

The first aircraft, bearing serial number 1818, was delivered new from the manufacturer last week and has been acquired by SALE under a purchase and 7.5 year leaseback agreement with the carrier. The second aircraft, ordered directly by SALE from Airbus, is currently in production and will be delivered in November for lease to TAM on a five year term. Both aircraft are powered by IAE V2500 engines.

The linked transaction is the second deal between SALE and TAM, which took delivery of one of the lessor’s existing A320s in April 2001 on a six year lease.

SALE Managing Director Robert Martin said that the company was pleased to build its relationship with the Brazilian carrier.

“Our latest transaction with TAM reflects the current trend for airlines worldwide to increase the proportion of leased aircraft within their fleets,” he said. “The combination of a purchase and leaseback with one direct lease represents a perfect example of the mutually beneficial partnership which can be developed between an airline and lessor.”

Established in 1993, SALE has swiftly grown to become one of the world’s leading aircraft leasing companies. With the addition of the new A320 this week, the SALE portfolio has grown to 43 aircraft. The company has another 31 on firm order with Airbus and Boeing for delivery through to 2008.

Offering true global coverage, SALE has offices in Singapore, London, Washington D.C. and San Diego, California.

For further information, please contact:
Sean LEE
Tel: +65 6325 9557
e-mail: [email protected]