Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Singapore Airlines To Buy Boeing 777-300er


26 August 2004


Singapore Airlines To Buy Boeing 777-300er Aircraft

Singapore Airlines (SIA) has signed a letter of intent to purchase up to thirty-one (31) Boeing B777-300ER (Extended Range) aircraft.

Eighteen of the thirty-one aircraft are firm orders for delivery between 2006 and 2010, while the remaining thirteen are subject to exercise of purchase rights. At list prices, the order is worth approximately US$7.35 billion, including the cost of spares and spare engines.

General Electric GE90-115B engines will power the twin-engine aircraft.

The order reinforces SIA’s standing as the biggest customer for the Boeing 777. SIA presently flies fifty-five B777s, and has another four B777s on firm order. With this latest order, the number of B777s in the SIA fleet will eventually reach seventy-seven units.

The B777-300ER, seating about 350 passengers and with a range of 7,000 nm, will be deployed on SIA’s long-haul and medium-haul routes. The new order will allow SIA to achieve capacity growth of between 4 and 6% a year. At the same time, it will maintain SIA’s fleet as one of the industry’s youngest, as the B747-400 is progressively retired.

The B777-300ER was chosen for its higher operating efficiency, commonality with existing fleet, and cabin spaciousness.

SIA Chief Executive Officer, Mr Chew Choon Seng, said the evaluation process was comprehensive, and the competition between Boeing and Airbus for the order was very keen.

“With its use of new generation avionics and materials, and its higher operating efficiency, the B777-300ER will deliver lower operating costs. It should integrate well with our existing fleet,
which already includes fifty-five aircraft from the B777 family. Our choice recognises the popular appeal among travellers of the B777 aircraft,” Mr Chew said.

As with previous orders, SIA expects to finance the purchase largely from internally generated cash flow, but if attractive, the Airline will consider other options like leasing or debt financing.

SIA had also sought proposals from manufacturers for suitable aircraft to operate on its regional routes. The manufacturers offered the Airbus A330-200 and the new Boeing 7E7 for evaluation. SIA has decided not to place any order for the regional aircraft because the proposals submitted did not meet SIA’s financial criteria. The airline will continue to use the B777-200 to serve the regional routes.

SIA currently operates 89 wide-bodied aircraft comprising 29 B747s, 55 B777s and five A340-500s, with firm orders for an additional four B777s and 10 A380s. SIA will be the launch customer for the A380 in 2006.

The average age of the passenger fleet is just five years.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news