Singapore Airlines 2003 Annual Report Download - page 27

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In addition to these six aircraft, SALE
acquired one B747-400 Freighter and two
aircraft in the A320 family in purchase and
leaseback arrangements with three carriers.
The company also sold three aircraft from
its portfolio, generating healthy profits over
the original purchase price.
As at 31 March 2003, the company had 23
customers in 17 countries and territories
worldwide. Its portfolio stood at 40
wholly-owned, one partially-owned and
four managed aircraft, with 26 more on
firm order for future delivery. Its fleet is one
of the youngest in the leasing industry, with
an average age of just five years and seven
months.
Singapore Flying College
At the beginning of the year in review,
the Singapore Flying College took over the
management and operations of advanced
training, previously a responsibility of SIA’s
Flight Crew Training Centre. To accommodate
this training, a new branch of the College
was set up in Maroochydore, on the
Sunshine Coast of Australia. Functional
since November 2002, it houses a full flight
simulator and operates a fleet of four Learjet
45s, two of them new and two transferred
from Singapore.
Singapore Aircraft Leasing Enterprise
(SALE)
SALE took delivery of six new aircraft during
the year, comprising four A320s from Airbus
and two B777-300s from Boeing. These
aircraft are now in service with airlines based
in Europe, the Middle East, and South
America, reflecting the global diversity of
the SALE customer base.
25
SIA Annual Report 02/03