SINGAPORE AIRLINES TO INCREASE BOEING 747-400 FREIGHTER FLEET

The Boeing Company today confirmed that Singapore Airlines has agreed to order six Boeing 747-400 Freighters.

Today's announcement, which is subject to the signing of a definitive agreement, has an estimated total value of $1.3 billion at list prices, including spares and spare engines.

Delivery for the new freighters is scheduled to begin in September 2002. Once delivered they will join the nine 747-400 Freighters the carrier currently operates. Singapore Airlines also holds existing firm orders for two 747-400 Freighters

"The 747-400, in both passenger and freighter versions, remains an essential part of our fleet plan in the years ahead," said Michael Tan, Singapore Airlines executive vice president - Commercial. "This expansion of our fleet will enable us to maintain our leadership role in the air cargo marketplace."

Singapore Airlines also operates 36 747-400 passenger airplanes, with four additional on firm order from previous announcements.

"We have a strong and lasting relationship with Singapore Airlines and continue to be committed to providing aircraft that allow it to be the market leader," said Seddik Belyamani, executive vice president - Sales and Marketing, Boeing Commercial Airplanes Group. "The 747-400 Freighter is the only new production freighter capable of more than a 120-ton payload."

The 747-400F offers the lowest ton-mile costs and longest range of any production freighter and is able to carry 124 tons (113,000 kg) of cargo up to 4,455 statute miles (7,170 km).

The flag carrier of Singapore is the third largest cargo airline in the world in terms of international scheduled freight-tonne-kilometers, with cargo accounting for 22.7 percent of total revenue in fiscal year 1998-99.

Singapore Airlines has named the 747-400 freighter the "MegaArk," acknowledging the airplane's ability to carry practically anything, including thoroughbred race horses and cattle, fresh fruits and vegetables, meat, automobiles, machinery, small aircraft, pipes and drilling equipment. Loading the 747-400 freighter is easy because cargo can be loaded through the airplane's nose.

Singapore Airlines has operated 747-400 freighters since August 1994 and received its most recent addition in September of this year.

According to it's the recently released biennial Boeing World Air Cargo Forecast, worldwide air cargo business is expected to grow faster than passenger air travel in every regional market during the next 20 years. During that same time, the number of airplanes in the world freighter fleet is expected to double, from 1,676 to nearly 3,200 airplanes. In terms of available lift, more than 90 percent of capacity will be provided by widebody freighters by 2019, including significant growth is expected in the large airplane segment, which includes the 747-400 freighter.