Singapore Airlines 2001 Annual Report Download - page 28

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26 SIA annual report 00/01
As at 31 March 2001, the SIA Group owned
19 commercial and 25 residential properties,
and leased 357 properties located in 105
cities and 43 countries.
Singapore Aircraft Leasing
Enterprise (SALE)
During the year in review, SALE placed a
$1 billion order for 11 A320-family aircraft
from Airbus Industrie. The three A319 and
eight A320 aircraft are due to be delivered
from the end of 2002 and bring to 50 the
number of firm aircraft orders SALE has
placed with the European manufacturer.
SALE delivered A320-200 aircraft to
British Mediterranean Airways, GB
Airways, America West Airlines, Qatar
Airways, Roots Air and Sabena; an A321-
200 to Monarch Airlines; a B737-300 to
China Eastern Airlines; an A330-300 to
Korean Airlines and one B777-200ER to
Malaysia Airlines. The company sold two
B777-200ERs to Oasis Leasing, an A320-
200 to Babcock and Brown Aircraft
Management and another A320-200
to TransAmerica Equipment Financial
Services and a B767-300ER to Alitalia.
It also issued its first Singapore Dollar
denominated bond to finance an A320-
200 aircraft.
SIA Properties (SIAP)
SIAP, the subsidiary responsible for
managing property development and
upgrading projects for the SIA Group at
home and abroad, had an active year.
In Singapore, major projects undertaken
included SIAEC's Trent Engine Overhaul
Complex and single-bay hangar, SATS'
Express Courier Centre 2, and the $5.3
million facelift of the Silver Kris Lounge
at Singapore Changi Airport.
Overseas projects included the completion
of the 88-room Hulhule Island Hotel in
the Maldives. The hotel is 100 per cent
owned by Maldives Inflight Catering Pte
Ltd of which SATS has a 35 per cent stake.
In addition, Silver Kris Lounges were
upgraded or constructed in Manila, San
Francisco and Sydney. Similar lounge
projects are in progress in London,
Melbourne, Osaka and Seoul. SIA offices
in Adelaide, Bangkok, Denpasar, Kuala
Lumpur, London and Tokyo were
renovated or relocated.