By Rebecca Rayko, Editor

Le BOURGET - Singapore Aircraft Leasing Enterprise (SALE) announced plans to buy 23 additional A320 family aircraft today at Le Bourget, increasing the toal number of commitments for Airbus single-aisle aircraft to 39.

The order, which includes 20 A320s and three A321s, is valued at just over $1 billion at list prices. "And I emphasize 'list prices,'" laughed Robert Martin, managing director of SALE.

Martin said the company's decision to increase its A320/321 fleet is based on renewed demand from airlines worldwide and will solidfy SALE's position as "the premier Asian-based lessor."

Airbus chief Noel Forgeard called the SALE order "a positive sign of a return to growth in Asia."

Martin concurred that the economic situation in Asia is improving, particularly in areas in Korea and in Thailand. He remained cautious on other less stable areas in Asia, adding that SALE will be watching the elections in Indonesia closely.

SALE joins a growing list of major aircraft lessors making major Airbus additions to their portfolios, including ILFC, GECAS and the CIT Group. This marks the second Airbus order from SALE in its six-year history.

"We are proud that Asia's fastest growing lessor has chosen its commitment to the A320 family," added Forgeard.

The A320/A321s will deliver from 2001 to 2008. Martin said the aircraft will be placed in about one year's time, since SALE tends to firm up its lease agreements around 12 months prior to delivery.

Engine selection will be made once SALE returns to Singapore, said Martin.