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A Member of Bank of China Group

Press Release

SALE Leases Five New Aircraft to China Southern Airlines

12 Dec 2005

Guangzhou-based China Southern Airlines has signed an agreement with Singapore Aircraft Leasing Enterprise (SALE) for the lease of five Airbus A320 aircraft. Scheduled for delivery in the first half of 2006, the aircraft will all be delivered new from the Airbus final assembly line and will be leased to the airline for a period of 12 years each.

The deal with China Southern is the largest bulk placement by SALE to date and marks a significant milestone in the development of the leasing company's business in China. The aircraft will be powered by IAE V2500 engines and will be configured to China Southern specifications, seating 158 passengers in a two class layout.

Robert Martin, Managing Director and Chief Executive Officer of SALE, said that the deal with China Southern reflected the ongoing strong demand for new single aisle aircraft such as the Airbus A320.

"We are extremely pleased to have been able to conclude a bulk placement with a carrier of the stature of China Southern Airlines," he said. "Mainland China remains one of the strongest markets for the air transport industry and we look forward to developing our business in this important market."

Liu Shao Yong, Chairman of China Southern Airlines Company Ltd said: “The addition of these aircraft to our fleet will enable us to meet near-term capacity demands and will supplement our direct orders with Airbus. This is the first time we have leased new aircraft from SALE and we look forward to a long and fruitful collaboration between our two companies.”

SALE is the leading Asia-based aircraft leasing company, with 72 modern aircraft currently flying with 31 airlines worldwide. The company has 27 aircraft on firm order for delivery from Airbus and Boeing between now and the end of 2008.

China Southern is one of China's leading carriers, operating both domestic and international services. The airline's fleet currently comprises 257 aircraft, including 58 from the A320 family.

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For further information, please contact:
Sean LEE
Tel: +65 6325 9557
Mobile: +65 9619 6549
sean.lee@saleleasing.com