SINGAPORE March 22, 2005 Singapore Aircraft Leasing Enterprise (SALE) today announced the purchase of up to 40 Boeing Next-Generation 737 aircraft powered by CFM56-7B engines. The deal covers 20 firm orders and 20 purchase rights, with deliveries between the fourth quarter of 2006 and the end of 2009. The firm engine order is valued at approximately $240 million at list price.
CFM56-7B engines are produced by CFM International, a 50/50 joint company between Snecma Moteurs (Safran Group) and General Electric Company. CFM is the world's leading supplier of commercial aircraft engines with more than 14, 500 engines in service with more than 400 operators worldwide. Singapore-based SALE is one of the industry's leading aircraft leasing companies, with a portfolio of more than 60 modern aircraft in service with 30 customers worldwide. The company, incorporated in 1993, has enjoyed 11 consecutive years of profitability.
"We are obviously delighted by SALE's decision," said Pierre Fabre, president and CEO of CFM International. "We are honored that they are expanding their CFM56-powered fleet so extensively and look forward to expanding and further strengthening our relationship in the future."
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 1,630 aircraft have been delivered to date, and the fleet has accumulated more than 36 million flight hours and 18.5 million flight cycles while maintaining a 99.95 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.