A Member of Bank of China Group

Press Release

SALE - Key Financial ResultsRESULTS

11 Jun 2001

SINGAPORE – 11 June 2001 – Singapore Aircraft Leasing Enterprise (“S.A.L.E.”) is pleased to announce highlights of its financial results for the fiscal year 2001 (April 2000-March 2001):
  • There was a 22.6% year-on-year increase in Net Profit Before Tax to US$41.4 million and an improvement in Return on Equity on a pre-tax basis from 13.05% to 13.74%. This represents our seventh successive year of growth in both profit and return on equity since the company was formed in November 1993.
  • Revenues increased by 22.5% to US$137.6 million, attributable to our core business of buying directly from manufacturers and placing them on operating lease with major airlines.
  • During fiscal 2001, S.A.L.E. acquired five A320s, one A321, one B777-200ER and one A330-300. It also sold two A320s and two B777-200ERs with leases attached to financial investors and one B767-300ER to an airline. These transactions consequently left S.A.L.E.’s total asset position virtually unchanged since March 2000 at US$1.4 billion.
  • The debt to equity ratio stood at a conservative 3.20:1, down slightly from the 3.76:1 of fiscal year 2000 while shareholder funds increased by US$37.0 million to US$319.7 million.
  • In the last financial year, S.A.L.E. created structured finance and marketing positions as a start to building its own capabilities in these areas. The company also opened an office in London to extend its marketing reach across the globe.
  • Staff grew from 26 to 33 worldwide during the financial year. About S.A.L.E.
S.A.L.E. is one of the world’s leading aircraft leasing businesses headquartered in Singapore, and was established in 1993. S.A.L.E. currently has 33 aircraft worth US$1.5 billion on lease to 19 airlines in 13 countries around the globe, with lessees including America West, Emirates, Korean Airlines, Malaysian Airlines, Monarch Airlines and Qatar Airways. The company has experienced significant growth in profits each year since its formation.

For further information, please contact:
Weber Shandwick Worldwide - Geeta Mirchandani
tel: +65 825 8083; e-mail: geetam@webershandwick.com