Saab Aircraft Leasing (SAL) reports a successful 2008 with entire portfolio allocated

Thursday 5th February, 2009

Saab Aircraft Leasing (SAL) closed a successful year in 2008 with all of its portfolio allocated to customers.

"Demand for good Saab aircraft continues to be strong and steady," said SAL President and CEO Michael Magnusson. "As always, we are pleased to see existing customers extend leases on our aircraft, while others chose to add more. During 2008, SAL was also able to secure new customers," he noted, adding "we foresee a small turnover of our aircraft during 2009."
In total, SAL completed 17 aircraft transactions last year and was limited by the number of aircraft available.
All six available Saab 2000s were either allocated or extended. OLT extended one and Air Express two. Eastern Airways added two, and Golden Air took delivery of one Saab 2000. In addition, SAL sold one Saab 2000 to Joe Gibbs Racing.
The only two available Saab 340Bs were extended by Loganair. The only four available Saab 340As were either leased, extended or sold (Loganair purchased two, Murray extended one, and Western Air leased one.) SAL also refinanced one Saab 340A for an un-disclosed customer.
During 2008, SAL successfully placed two Saab 340Bs on behalf of a third party on long-term lease with Air Panama which is both a new customer and a new country for Saab. SAL also placed one Saab 340A on behalf of REX to SOL in Argentina.
SAL's portfolio at the end of the year consisted of 125 aircraft leased to 17 clients in 11 countries.