Friday, 9 April 2021

First quarter results for BOC

BOC Aviation Limited, the aircraft leasing firm has released its operational transactions for the quarter ended 31 March 2021.   


Transactions Summary 


·         A total fleet of 549 aircraft owned, managed and on order1,2, with our owned and managed portfolio exceeding 400 aircraft for the first time

·         An average aircraft age of 3.6 years and an average remaining lease term of 8.5 years for the 366 owned aircraft fleet, weighted by net book value

·         Order book of 144 aircraft1,2

·         Executed a total of 45 transactions in the first quarter of 2021:  

·           Took delivery of 17 aircraft (including three acquired by airline customers on delivery)

·           Sold six owned and one managed aircraft

·           Committed to purchase eight Airbus A320NEO aircraft

·           Signed 13 lease commitments

·         Customer base of 86 airlines in 38 countries and regions in the owned and managed portfolios

·         Managed fleet comprised 39 aircraft, with three single-aisle aircraft off lease

·         Owned aircraft utilisation at 99.8% for the quarter ended 31 March 2021, with two single-aisle aircraft off lease


Includes all commitments to purchase aircraft including those where an airline customer has the right to acquire the relevant aircraft on delivery.
On 10 March 2020, we announced an agreement to purchase 22 Boeing 787-8 aircraft for delivery in 2020 and 2021. In March 2021, we amended the agreement to extend the delivery period for the undelivered aircraft to 2023 and to convert five of the undelivered aircraft to the Boeing 787-9 variant. 

Shareholders and potential investors are reminded that the above operational data are based on the Company’s records and have not been audited or reviewed by the Company’s auditors.

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