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Press Release

SALE to Lease Up to Eight New 737s to Westjet

21 Jul 2006

Singapore Aircraft Leasing Enterprise (SALE) has signed agreements with Canadian low cost carrier WestJet for the long-term lease of up to eight new Boeing Next-Generation 737 aircraft. The deal covers four confirmed deliveries in late 2007 and early 2008, plus four later deliveries subject to reconfirmation. All the aircraft will be delivered new from the Boeing final assembly line in Seattle and are part of SALE’s current orders with the US manufacturer.

WestJet will lease two versions of the Next-Generation 737 from SALE, comprising up to six 737-700s and two 737-800s. Although SALE originally specified the B737-800 as the baseline aircraft for its orders with Boeing, the company has the right to opt for other versions of the 737 product line in order to meet customer requirements.

“As WestJet successfully executes its strategic plan, the delivery of these aircraft is key to our growth in the coming years. The foreseeable future indicates many opportunities for increasing frequency and expansion into new routes and new destinations,” said Sean Durfy, WestJet’s Executive Vice-President, Marketing, Sales and Airports. 

Robert Martin, Managing Director and Chief Executive Officer of SALE, said that the deal with WestJet represented the largest multiple placement by the Singapore lessor to date.

“WestJet is a fast-growing airline with all the right elements in place to ensure its future success,” he said. “We are extremely pleased to be able to play a role in the airline’s fleet development plan and look forward to a long-term partnership between our two companies.”

Marking its tenth anniversary this year, WestJet is Canada's leading low-fare airline offering scheduled service throughout its 33-city North American network. WestJet currently has a registered fleet of 57 aircraft.

SALE is the leading Asia-based aircraft leasing company, with a current fleet of 82 modern aircraft flying with 34 airlines worldwide. The company has 30 737 aircraft on firm order with Boeing for delivery from the end of 2006 through to 2010. All aircraft delivering in 2006 and 2007 have now been placed.