Following an injection of new capital, Singapore Aircraft Leasing Enterprise (SALE) claims that it is on course to take its place among the world's three largest leasors by the year 2000, building a portfolio of 100 aircraft with its US joint owner, Boullioun Aviation Services.
The claim follows the arrival of two new Singapore state investors in SALE, which was originally set up by Boullioun and Singapore Airlines (SIA). Temasek Holding, which owns a sizeable part of SIA, and the Government Investment Board have each acquired a 14.5% share in SALE for a combined investment of $125 million.
"This additional capital will enable us to exercise most, if not all, our options, or order new aircraft," says SALE managing director John Willingham. The unit claims that its planned fleet of aircraft, together with that of Boullioun, will make it the third largest leasing company after General Electric Capital and International Lease Finance. There has been speculation that SALE is also angling to take control of Australia's Ansett Worldwide Aviation Services, which has around 100 aircraft on its books.
SALE has orders for 12 Airbus A320s and another 12 options, as well as six firm orders for Boeing 777s and ten options. Boullioun chief executive Robert Genise says that it will have a separate fleet of 28 aircraft on lease to 13 airlines by the end of the year.
Source: Flight International
