20 Orders Firm, 20 Pending

Singapore Aircraft Leasing Enterprise (SALE) Tuesday announced it will purchase up to 40 Next-Generation 737 aircraft from Boeing. The deal covers 20 firm orders and 20 purchase rights, with deliveries of the aircraft scheduled between the fourth quarter of 2006 and the end of 2009.

SALE has specified the 737-800 as the baseline aircraft for its order. Under the terms of its agreement with Boeing, SALE has the flexibility to convert orders and purchase rights to the smaller 737-700 or proposed higher capacity 737-900X. As with all Next-Generation 737 aircraft, SALE's new Boeing fleet will be powered by engines from CFM International.

The deal represents SALE’s first direct order with Boeing for the Next-Generation 737 product line, although the company has previously acquired eight aircraft from airlines on a purchase and leaseback basis.

Robert Martin, SALE Managing Director and Chief Executive Officer, said that the order reflected the strong recovery in demand for leased aircraft and represented a logical further diversification of the company’s portfolio.

"With over 100 airline operators, the Next-Generation 737 series is a popular choice with carriers from all geographic regions and every segment of the industry. The addition of the aircraft to our portfolio will therefore enable SALE to reach a wider range of airline customers and significantly develop our global business."

"Singapore Aircraft Leasing Enterprise is a world-class lessor, and this is a great testimony to the appeal of the Next-Generation 737. SALE recognizes the value of the 737, a favorite among both full-service and low cost carriers, and a proven profit generator that provides operators with superior operating economics and passenger appeal," said Scott Carson, Boeing Commercial Airplanes Vice President, Sales.

In addition to the aircraft being ordered from Boeing, SALE has outstanding firm orders with Airbus for 11 A320s, due for delivery between now and the end of the second quarter of 2006.

FMI: www.saleleasing.com