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Press Release

SALE Finalises Lease of Five A320 Aircraft to Air Deccan

07 Jun 2004

Singapore Aircraft Leasing Enterprise (SALE) has finalised the lease of five Airbus A320 aircraft to Indian low cost carrier Air Deccan, confirming an agreement announced earlier this year. The deal covers three used aircraft scheduled to join the airline in July and two due for delivery new from Airbus in the first quarter of 2005. All the aircraft will be powered by IAE V2500 engines and will be leased to the airline for a period of five years.

The first three aircraft, which were manufactured in 1998, are currently undergoing reconfiguration to Air Deccan's 180 seat single class layout. They will be the first jet types to join the Bangalore-based carrier's fleet and will be used on trunk routes linking India's IT capital with major Indian cities. In addition to the five aircraft from SALE, Air Deccan has also placed orders with Airbus for two more aircraft for delivery in the third quarter of 2005.

Captain G R Gopinath, Managing Director of Air Deccan, said that the decision to lease the first five aircraft had enabled the carrier to move into the jet market while preserving existing capital to develop its wider infrastructure and support services.

"We are pleased to have been able to work with SALE for the acquisition of these aircraft and would like to thank them for their support for our business plan," he said. "With the arrival of the A320 Air Deccan will bring affordable air travel to more passengers in the Indian market while maintaining a high level of comfort."

Robert Martin, Managing Director of SALE, said that the company was pleased to play a role in the development of Air Deccan, in a deal which also marks the lessor's entry into the Indian market.

"India represents one of the most important growth areas for the air transport industry and we are therefore excited to have established a presence in the country," he said. "We will be proud to see our aircraft flying in the colours of Air Deccan and wish the airline every success in the future."

Celebrating its 10th Anniversary this year, SALE is the leading Asia-based aircraft leasing company, with a portfolio currently comprising 59 modern aircraft with an average age of just five years.

Offering truly global coverage, SALE now has 31 customers from every region and all segments of the airline industry, including full service, low cost, franchise and charter operators.

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For further information, please contact:

Sean Lee
Tel: +65 6325 9557
Mobile: +65 96196549
sean.lee@saleleasing.com