Singapore Airlines buys planes

Singapore Airlines, which prides itself in maintaining a young and reliable fleet, is buying more aircraft.

Singapore Air in 7 billion Boeing deal
Singapore Airlines, Asia's most profitable carrier, said Wednesday that it had chosen Boeing to supply as many as 31 new long-range jetliners, a deal that could be worth more than $7 billion... Singapore Airlines said that it had signed a letter of intent to buy as many as 31 Boeing 777-300ER aircraft in an order valued at about $7.35 billion, according to Boeing's list prices. Chew Choon Seng, the chief executive of Singapore Airlines, said Boeing and Airbus had competed fiercely for that deal. The order will help Boeing, the No.2 maker of jetliners, in its fight to regain market share from No.1 Airbus. Singapore Airlines has signed firm orders to take delivery of 18 of the new planes between 2006 and 2010. General Electric will supply GE90-115B engines for the new planes, its first order from Singapore Airlines.

It looks like higher oil prices are not deterring Singapore Airlines from investing in the future. The more recent slide in oil prices, though, should be good news for the airline.