Additional Option For 20 More
Boeing and Singapore Aircraft Leasing Enterprise (SALE)
Wednesday completed a sales agreement for 20 Boeing Next-Generation
737s, plus purchase rights for 20 additional airplanes.
The agreement, valued at $1.1 billion at list prices, represents
SALE's first direct order of 737s from Boeing. Deliveries are to
begin in late 2006 and extend through late 2009. It also is the
largest jetliner purchase announced by a leasing company since the
Sept. 11, 2001 , events that severely affected the world's aviation
"This is clearly a milestone in our relationship with Singapore
Aircraft Leasing Enterprise, a world-class lessor," said Mike Cave
, vice president and general manager, Airplane Programs -- Boeing
Commercial Airplanes, in Singapore for the contract signing. "The
737 is a favorite among both full-service and low-cost carriers --
an important attribute in the leasing business."
SALE selected the Next-Generation 737 to attract new customers
and significantly develop its global business. SALE cited the 737's
value, global customer base, technology, flexibility, reliability
and economic and environmental performance in placing its
The 737-800 is the baseline model SALE has specified. However,
the agreement provides for conversions to the 737-700 or the
proposed higher-capacity 737-900X. The Next-Generation 737 family
is powered by CFM56-7B turbofans from CFM International.
"We are very happy to have finalized our contract with Boeing,"
said SALE Managing Director and Chief Executive Officer Robert
Martin. "The addition of the aircraft to our portfolio will enable
SALE to reach a wider range of airline customers and significantly
develop our global business."
The Next-Generation 737 provides the best value in its class,
with proven profit-making capability, achieved through superior
operating economics and passenger appeal.
The Boeing 737 features the newest, technologically advanced
design in its class and is the leader in reliability and operating
costs. The Next-Generation 737 family has garnered orders for
nearly 2,600 airplanes with a backlog of more than 850
Previously, SALE has ordered six Boeing 777s and three Boeing
767s. In addition, the lessor owns a number of Boeing jetliners
purchased through other sources.