Singapore Aircraft Leasing Enterprise (SALE) said on Monday that it has placed firm orders with Airbus and Boeing for 40 more single-aisle aircraft in a deal worth USD$2.8 billion based on list prices.

SALE, which was acquired by Bank of China last month for USD$965 million, said it had placed a new order with Airbus for 20 A320 aircraft and would exercise 20 existing options and purchase rights with Boeing for the next generation 737 series.

The firm's clients include easyJet, AirAsia and Qantas Airways.

All 40 aircraft will be delivered between the second quarter of 2009 and the first quarter of 2012, the company said in a statement. SALE said it was still evaluating which engines to buy for the new Airbus aircraft.

The new Boeing aircraft will be powered by engines from CFM International.

The new orders placed by SALE are the first since the company was bought by Bank of China, and underscore the commitment by the bank to accelerate the expansion of the Singapore-based firm, the statement said.

Robert Martin, chief executive officer of SALE, said the firm has already placed almost all the aircraft from its existing orders for delivery through to the end of 2009.

"We are therefore extremely pleased to have been able to secure additional delivery slots for both the Airbus and Boeing single aisle products," he said in the statement.

SALE has a current portfolio of 75 aircraft and has an additional 67 aircraft on firm order.