Singapore Aircraft Leasing Enterprise (SALE) today announced that it has firmed options for a total of 20 additional CFM56-7B-powered Boeing Next-Generation 737 aircraft. The engine order is valued at approximately $275 million at list price and the aircraft will be delivered between 2009 and 2011.
CFM56-7B engines are produced by CFM International, a 50/50 joint company between Snecma (Safran Group) and General Electric Company. CFM is the world's leading supplier of commercial aircraft engines with more than 16, 500 engines in service with more than 450 operators.
Singapore-based SALE is one of the industry's leading aircraft leasing companies, with a portfolio of 75 modern aircraft in service with over 30 airline customers worldwide. In December 2006, SALE was acquired by the Bank of China and now operates as a standalone unit within that organization. Today's announcement brings SALE's total CFM56-7B-powered 737 order to 50 aircraft.
The CFM56-7B brings the industry's most advanced technology to the 737, providing low operating costs, high performance, high reliability, low noise and emissions and excellent operability. More than 2,100 aircraft have been delivered to date, and the fleet has accumulated more than 58 million flight hours and 30 million flight cycles while maintaining a 99.96 percent dispatch reliability rate. This rate translates to less than one departure per 2,000 flights being delayed 15 minutes or more or canceled for engine-related issues. The CFM56-7 also has one of the lowest in-flight shutdown rates in the industry: .002 per 1,000 hours. The rate is equivalent to one engine-caused in-flight shutdown every 500,000-flight hours.