Boeing and Singapore Aircraft Leasing in 10-Airplane Deal for 737s

Seattle (BOEING) - The Boeing Company and Singapore Aircraft Leasing Enterprise (SALE) today announced an order by the lessor for 10 Boeing Next-Generation 737s, plus 10 options and 10 purchase rights.

The agreement, valued at US$675 million at list prices for the 10 firm airplanes, is the second SALE order for 737s in less than a year, after an order for 20 airplanes in May 2005. The new airplanes are scheduled for deliveries beginning in 2009 and extending through 2010.

The 737-800 is the baseline model SALE has specified; however, the agreement provides for conversions to other Next-Generation 737 family models at a later date. "We continue to develop our strong relationship with Singapore Aircraft Leasing," said Larry Dickenson, vice president of Sales for Boeing Commercial Airplanes. "The 737 family provides extreme operational flexibility for both full-service and low-cost carriers, enabling easy placement of the 737 models with operators."

The success that SALE has found in placing the 737s from its first order was instrumental in the follow-on purchase. The 737's flexibility, dispatch reliability and economic and environmental performance have proven attractive as SALE expands its global customer base.

"Demand for leased aircraft from the Next-Generation 737 series remains strong with airlines from all sectors of the industry," said SALE Managing Director and Chief Executive Officer Robert Martin. "The decision to acquire the Next-Generation 737 series has been an excellent exercise in portfolio diversification."

The Boeing Next-Generation 737 features the newest design in its class and is the leader in reliability and low operating costs, providing outstanding value and profit-making capability. The Next-Generation 737 family has garnered orders for more than 3,100 airplanes, with a backlog of more than 1,200 airplanes.

Previously, SALE has ordered six 777s from Boeing. In addition, the lessor owns a number of Boeing jetliners purchased through other sources.

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