Robert Martin, managing director of Singapore Aircraft Leasing Enterprise (SALE), and Mark King, president of International Aero Engines (IAE), are both celebrating anniversaries this week at the show: SALE is 10 years old, while it is 20 years since IAE was created.
To mark the milestones, King presented Martin with a commemorative globe. "SALE has twice ordered engines from us – they are one of our best customers," says King.
SALE has taken delivery of 29 V2500-powered Airbus A320s and has a further 22 on order. It has also traded 12 of its A320s, says Martin. "You've heard the sales hype – now here's the truth," he told journalists at King's IAE press conference. "SALE believes in residual value. Without exception we have made money on every single one of our IAE-powered aircraft – all have been traded for good profit."
Since it was established, SALE has grown into a major player in the leasing market with a portfolio of 53 aircraft worth $2.5 billion. Today its major shareholders are Singapore Airlines and Boullioun, each with a 35.5% stake, while Temasek Capital and GIC each hold 14.5% stakes.
Source: Flight Daily News
