The properties of a newly developed single crystal superalloyknown as STAL-15 -is described which is suitable for use in first stage blades of industrial gas turbines (IGTs). With 15 wt.% Cr and 4.55 wt.% Al, the alloy combines good corrosion and oxidation resistance with sufficient creep and fatigue performance. Traditionally, polycrystalline alloys such as IN792 and IN738LC or the single crystal alloy PWA-1483 have been used for this application; unfortunately they display only limited resistance to environmental degradation. The new alloy does not display this weakness and is therefore highly optimised for IGT applications. The new alloy is shown to be an alumina (Al2O3) former; the mechanisms behind the Al2O3-formation process are studied and the effects arising from changes in the chemical composition have been modelled. In addition, the mechanical properties in terms of creep and fatigue resistance are demonstrated together and the alloy stability evaluated during long term (up to 10,000 hours) exposure. For such applications, the new alloy is superior to existing nickel-based single crystal superalloys designed for aeroengine applications and which are optimised for very high creep resistance. The absence of Re contributes to a lower cost of alloy stock, and enhanced castability.