BOC Aviation gains contract from SIA Engineering Company (“SIAEC”) for heavy maintenance projects on widebody aircraft

BOC Aviation Limited announced that it has awarded a contract to SIA Engineering Company (“SIAEC”) to conduct heavy maintenance projects on widebody aircraft that it will transition to new customers in 2022. It represents an extension of last year’s successfully completed mandate for support in transitioning narrowbody aircraft. The 2022 work will be carried out at SIAEC’s main base in Singapore and at SIA Engineering (Philippines) Corporation, its wholly-owned subsidiary located in Clark, Philippines.

“We are delighted to be working once again with our partners at SIAEC,” said Mr. Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation. “The combination of quality and reliability make SIAEC a good choice to support our aircraft transition work in order to deliver on our commitments to provide aircraft to our airline customers.”

Mr. Ng Chin Hwee, Chief Executive Officer of SIAEC, said: “We appreciate BOC Aviation’s confidence in awarding the contract to SIAEC Group to support its fleet. This reflects BOC Aviation’s continued trust in SIAEC’s extensive maintenance, repair and overhaul (MRO) capabilities and reliable services.  With decades of MRO experience behind us, we are confident of delivering top-quality maintenance services and engineering support to BOC Aviation.”

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BOC Aviation orders eight shipsets of CFM LEAP-1A Engines to power new Airbus A320neo family aircraft

BOC Aviation has confirmed orders for eight shipsets of CFM International LEAP-1A engines to power new Airbus A320NEO family aircraft on order from Airbus and scheduled for delivery in 2023.

CFM International is a 50/50 joint company between GE and Safran Aircraft Engines and produces engines for both the Airbus A320 family and Boeing 737 series.

“CFM engines have powered our fleet since 1998, and we are pleased to build on this long-standing relationship. This contract signifies our continued confidence in the CFM LEAP engine and reflects our customers’ satisfaction in CFM LEAP-powered A320NEO aircraft as an efficient and reliable airframe and engine combination,” said Robert Martin, Managing Director and Chief Executive Officer of BOC Aviation, at a signing ceremony today.

“With this order, CFM engines will power 486 aircraft in our portfolio, and we look forward to continue providing our airline customers with fuel-efficient and technologically advanced aircraft solutions,” said David Walton, Deputy Managing Director and Chief Operating Officer, BOC Aviation.

Read more on BOC Aviation's amazing milestone with GE. 

“We are pleased that BOC Aviation has again chosen the LEAP-1A engine to power its new A320neo family aircraft,” said Gaël Méheust, president and CEO of CFM International “And we are both honoured by the continued faith that BOC Aviation has shown in our people and our products and proud to bring sustainability benefits in terms of better fuel efficiency and lower CO2 emissions, as well as the industry’s highest asset utilisation, to BOC Aviation and its airline customers.”

Air101: BOC Aviation lists its operational transactions for the fourth quarter and 2021

Air101: BOC Aviation announce orders for 10 firm and 15 option shipsets of Pratt & Whitney GTF™ engines

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More than 1,000 engines from GE Aviation - BOC Aviation

BOC Aviation Limited announced this week that it has taken delivery of more than 1,000 engines from GE Aviation since its inception.

 BOC Aviation is a leading global aircraft operating leasing company with a fleet of 521 aircraft owned, managed and on order. Its owned and managed fleet was leased to 86 airlines in 38 countries and regions worldwide as of 31 December 2021. BOC Aviation is listed on the Hong Kong Stock Exchange and has its headquarters in Singapore with offices in Dublin, London, New York and Tianjin.

Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation, said: “We are thrilled to celebrate this achievement, and are proud of our long-standing relationship with GE Aviation that dates back to 1995. This milestone is testament to the strong cooperation we share with one of the world’s top aircraft engine suppliers and reflects our disciplined investment strategy of building our portfolio with the latest aircraft technology. We look forward to building on this partnership and providing our airline customers more fuel-efficient and technologically advanced aircraft solutions in the future.”

“We are excited to extend our long-term relationship with BOC Aviation," said Kathy MacKenzie, president and CEO of GE Aviation’s commercial engine operations. “This milestone is a significant one, and we are proud to have a strong relationship with them built on passion, capability, and a commitment to drive toward a more sustainable future with technology that improves fuel efficiency and reduces emissions.”

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BOC Aviation lists its operational transactions for the fourth quarter and 2021

BOC Aviation Limited has announced its operational transactions for the fourth quarter and year
as of 31 December 2021.

Robert Martin, Managing Director and Chief Executive Officer, said, “We are pleased to achieve robust performance in 2021 in a challenging operating environment. During the year, we took delivery of 52 aircraft and sold 26 owned and managed aircraft, ending the year with a total fleet of 521 aircraft. Our fleet remains one of the industry’s most attractive, with a young average age of 3.9 years and long average remaining lease term of 8.3 years. Looking ahead, our portfolio positions us well to serve the growth and replacement requirements of our airline customers.”

 

Transactions Summary 

 

·       A total fleet of 521 aircraft owned, managed and on order1

·        An average aircraft age of 3.9 years and an average remaining lease term of 8.3 years for the 380 owned aircraft fleet, both weighted by net book value

·        Order book of 104 aircraft1

·        Executed a total of 42 transactions in the fourth quarter of 2021 and 160 in 2021:

·          Took delivery of nine aircraft in the fourth quarter of 2021, and 52 in total in 2021 (including seven acquired by airline customers on delivery)

·          Sold 12 owned aircraft in the fourth quarter of 2021, which brought the total number of owned and managed aircraft sold during the year to 26

·          Signed 21 lease commitments in the fourth quarter of 2021, bringing the total for 2021 to 74

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

·       Managed fleet comprised 37 aircraft, with two single-aisle aircraft off lease. A signed lease is in place for one of the single-aisle aircraft, scheduled for delivery in the first quarter of 2022

·        Owned aircraft utilisation at 98.5%, with five single-aisle and five twin-aisle aircraft off lease. Signed leases are in place for all five twin-aisle aircraft, scheduled for delivery in the first quarter of 2022

 

Another Airbus A320NEO for IndiGo

IndiGo (InterGlobe Aviation Ltd) has taken delivery of the last of eight Airbus A320NEO aircraft powered by CFM Leap engines, on a sale and leaseback deal with BOC Aviation Limited. 

Mr. Steven Townend, Deputy Managing Director and Chief Financial Officer, BOC Aviation, said: “The delivery of these eight aircraft reflects the strong cooperation that we have established with IndiGo, India’s largest passenger airline.”

“We look forward to building on our relationships with major airline partners such as IndiGo, as we continue to support our airline customers in financing their aircraft deliveries,” added Mr. Townend.

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BOC Aviation announce orders for 10 firm and 15 option shipsets of Pratt & Whitney GTF™ engines

BOC Aviation Limited has announced orders for 10 firm and 15 option shipsets of Pratt & Whitney GTF™ (“GTF”) engines to power new Airbus A320neo family aircraft already in the Company’s order book and scheduled for delivery in 2023 and 2024.

The GTF engine is offered through Pratt & Whitney, a world leader in the design, manufacture and service of aircraft and helicopter engines, and auxiliary power units.

“This repeat order reflects the highly efficient performance of the GTF engine that will continue to power a significant portion of our A320 family fleet and orderbook,” said Robert Martin, Managing Director & Chief Executive Officer of BOC Aviation. “We have acquired 47 shipsets of GTF engines to date. Our relationship with Pratt & Whitney and its related entities dates back to 1997. Since then, engines produced by Pratt & Whitney have powered 230 aircraft in our portfolio, representing more than 25% of the total aircraft that we have purchased or committed to purchase.”

Rick Deurloo, Chief Commercial Officer, Commercial Engines, Pratt & Whitney, said, “We thank BOC Aviation for its continued confidence in the GTF engine. We have a strong, almost 25 year relationship with BOC Aviation and we look forward to supporting its latest order of game-changing GTF engines.”

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BOC Aviation Limited signs unsecured syndicated US$935 million credit facilities

BOC Aviation Limited announced that it has signed unsecured syndicated US$935 million credit facilities comprised of a US$500 million revolving credit facility and a US$435 million term loan facility (the “Facilities”), both with a tenor of five years. Following a strong response from lenders after the launch into general syndication, the Facilities were increased to a combined final size of US$935 million from an initial launch amount of US$750 million.

 

Bank of Communications Co., Ltd, BNP Paribas, Citigroup Global Markets Singapore Pte. Ltd., DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited, MUFG Bank, Ltd, Oversea-Chinese Banking Corporation Limited and United Overseas Bank Limited are the Original Mandated Lead Arrangers and Bookrunners (the “OMLABs”) for the Facilities. Participating in the Facilities are 16 financial institutions, including the OMLABs.

 

“We are very pleased to have completed this flexible financing package with some of our leading banking partners,” said Steven Townend, Deputy Managing Director and Chief Financial Officer of BOC Aviation. “The interest in this Facility has confirmed for us the continuing support of the loan markets for BOC Aviation and complements the liquidity that is available to us in the debt capital markets.”

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BOC Aviation Limited has just released its unaudited results for the six months ended 30 June 2021, during which the firm reported net profit after tax (“NPAT”) of US$254 million for the first half of  2021. 

Profitability has improved since the second half of 2020, as the earnings and cash flow outlook improved for most of our airline customers, particularly in China, Europe and  USA.  During the six months ended June 2021, we generated positive operating cash flow net of interest expenses of US$557 million and ended the half-year with a record US$5.8 billion in available liquidity. 

The Board of Directors approved a distribution of US$0.1098 per share by way of interim dividend, which represents 30% of our NPAT in the first half of 2021 and is the same proportion of NPAT that we distributed as an interim dividend in prior years. 

“BOC Aviation’s underlying earnings continued to improve during 1H 2021 with profit before tax and impairment charges rising 5% to US$434 million, reflecting our disciplined investment in modern aircraft, placed on long term leases to high-quality airline customers,”  Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation, commented.  “We celebrated our fifth year as a listed company in June and have generated over US$5  billion in cumulative earnings since our inception 27 years ago.” 

Financial Highlights 

Financial highlights for the six months ended 30 June 2021 are: 

• Total revenues and other income increased 7% to US$1,107 million • Profit before tax and charges for impairment of aircraft and financial assets of  US$434 million, up 5% from US$412 million in the first half of 2020 

• Operating cash flow net of interest increased 0.4% in the first six months of 2021  compared with 1H 2020 

• Net profit after tax declined to US$254 million, compared with US$323 million in the  first half of 2020 

• Earnings per share of US$0.37 

 Total assets increased to US$23.9 billion as at 30 June 2021 from US$23.6 billion  as at 31 December 2020  

• Raised US$2 billion in new financing 

• Maintained strong liquidity with US$460 million in cash and cash equivalents in  addition to US$5.4 billion in undrawn committed revolving credit facilities as at 30  June 2021 

Portfolio and Operational Highlights 

Our operational transactions as at 30 June 2021 included: 

• A portfolio of 5361 owned, managed and committed aircraft 

• Owned fleet of 377 aircraft, with an average age of 3.7 years and an average  remaining lease term of 8.1 years, each weighted by net book value 

• An orderbook of 1221 aircraft scheduled for delivery through to 31 December 2024 • Total deliveries of 34 aircraft, including six acquired by airline customers on delivery,  in the first half of 2021 

• Signed 26 lease commitments in the first half of 2021, with all aircraft scheduled for  delivery from our orderbook before 2023 placed with airline customers • Customer base of 87 airlines in 38 countries and regions in the owned and managed  fleet 

• Sold nine aircraft from the owned fleet and three from the managed fleet • Owned aircraft utilisation at 99.6%, with six twin aisle aircraft (all of which are now  subject to new leases) and two single aisle aircraft off lease at 30 June 2021 • Managed fleet comprised 37 aircraft, with two single aisle aircraft off lease at 30 June  2021

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BOC Aviation shows its operational transactions for the quarter ended 30 June 2021

BOC Aviation Limited has announced its operational transactions for the quarter ended 30 June 2021 and as at 30 June 2021.

Transactions Summary 

·         A total fleet of 536 aircraft owned, managed and on order1

·         An average aircraft age of 3.7 years and an average remaining lease term of 8.1 years for the 377 owned aircraft fleet, weighted by net book value

·         Order book of 122 aircraft1

·         Executed a total of 35 transactions in the second quarter of 2021:  

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

·           Sold three owned and two managed aircraft

·           Signed 13 lease commitments

·         Customer base of 87 airlines in 38 countries and regions in the owned and managed portfolios

·         Managed fleet comprised 37 aircraft, with two single aisle aircraft off lease

Owned aircraft utilisation at 99.6%, with two single aisle and six twin aisle aircraft off lease. Signed leases are now in place for all six twin aisle aircraft

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BOC Aviation Limited appointments Stephen Barnes as Chief Risk Officer

BOC Aviation Limited has announced the appointment of Stephen Barnes as Chief Risk Officer, with effect from today. Stephen succeeds David Farrell, who has resigned due to family reasons but will remain with the Company until the middle of August 2021 to ensure a smooth transition of his duties to Stephen.

Stephen will oversee all risk management matters globally, including asset, liability, credit and cashflow risk. He will be based in the Company’s headquarters in Singapore and reports to Zhang Xiaolu, Vice Chairman and Deputy Managing Director.

Stephen has more than 35 years of experience in the airline, aircraft leasing and banking industries. Prior to joining the Company, he was the Chief Financial Officer of the Singapore Airlines group. 

“We thank David for his dedication and contributions to the Company over the last 15 years and wish him well in the future.” said Robert Martin, Managing Director and Chief Executive Officer. “Stephen brings with him broad experience of the airline, leasing and banking industries and we look forward to working with him.”

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BOC Aviation delivers seventh Boeing 737 MAX 8 to TUI

Leasing firm BOC Aviation Limited has delivered the seventh of seven new Boeing 737 MAX 8 aircraft powered by CFM LEAP-1B engines for lease to TUI Travel.

Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation, said: “We are delighted to work with our long-standing customer TUI, and to provide TUI with the most fuel-efficient, latest technology aircraft. Following the international recertification of the Boeing 737 MAX aircraft, we delivered all seven aircraft to TUI in just four months, which reflects a high level of teamwork on both sides. We look forward to developing our relationship with TUI further and remain committed to providing our customers with large scale financing solutions as well as technologically advanced aircraft.” 

BOC Aviation deliver three of four A321neos to Scoot

BOC Aviation has announced that it has delivered three of four new Airbus A321neo aircraft on lease to Scoot Airlines.

Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation, said: “We are delighted to have delivered these aircraft to Scoot, and we’re pleased to be building a new relationship with another member of the Singapore Airlines Group. We look forward to working with Scoot and our other customers to provide more fuel-efficient and technologically advanced aircraft in the future.”

Campbell Wilson, Scoot’s Chief Executive Officer, said, “The A321neo aircraft offers additional capacity and range, unlocking new network growth possibilities for Scoot while enabling us to elevate the passenger experience in a commercially viable manner. Investing in new-generation aircraft and operating a young, fuel-efficient fleet is a cornerstone of Scoot’s strategy to achieve net-zero carbon emissions by 2050. Combined with being the world’s first and only low-cost carrier to attain the highest Diamond status in the APEX Health Safety powered by SimpliFlying global audit of airlines, Scoot is on a firm footing to recover and re-establish ourselves as the low-cost carrier of choice in the region for post-pandemic travel.”

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Remi Le Meur takes over as Head of Aircraft Sales at BOC Aviation replacing retiring Andrew Taylor

BOC Aviation Limited confirmed this week that Remi Le Meur takes over as Head of Aircraft Sales today from the retiring Andrew Taylor, who will remain with the firm until the end of the month.

The new role will see Remi look after the aircraft sales department globally with primary responsibility for selling aircraft with leases attached and managing relationships with aircraft investors. He will be based in the Company’s headquarters in Singapore.

Remi joined the BOC in 2011, where he was most recently Head of Airline Leasing and Sales for Europe and Africa, based in the Dublin office. He has 23 years of aircraft sales, airline marketing and leasing experience.

“We thank Andrew for his dedication and contributions to the Company, and wish him well in his retirement,” said Robert Martin, Managing Director and Chief Executive Officer. “We are delighted to welcome Remi to the Singapore office as he takes on this new role. This appointment also continues to reflect the strong emphasis we place on talent management and succession planning, as we maintain a global management team with experience across the core competencies of the aircraft operating leasing business to deliver long term sustainable growth.”

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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

BOC Aviation Limited, the leading global aircraft operating leasing company with a fleet of 553 aircraft owned, managed and on order. Its owned and managed fleet was leased to 87 airlines worldwide in 39 countries and regions has released its financial results for the full year ended 31 December 2020. week. 

Robert Martin, Managing Director and Chief Executive Officer, said: “In 2020, BOC Aviation’s core business continued to perform well in the most challenging year in aviation history. Net profit after tax was US$510 million and we will recommend to shareholders to approve a final dividend of 11.73 US cents per share, bringing total dividends for the full year to 35% of net profit after tax.

Total revenues and other income exceeded US$2 billion for the first time in 2020, up 4% year-on-year, and our total assets rose to US$23.6 billion as at 31 December 2020, 19% higher than 2019. Operating cash flows net of interest paid increased 13% for the full year compared with 2019.

We worked to support our customers by increasing purchase and leaseback activity, while reducing and deferring orders from manufacturers in the near term. We delivered 54 aircraft to our airline customers, taking our owned and managed fleet to a new high of 398 aircraft. BOC Aviation demonstrated resilience in the face of a global pandemic and we positioned the Company for long term earnings growth. The strength of our balance sheet and access to liquidity remain hallmarks of our Company. These place us well to deal with both the challenges that Covid-19 still presents to the world, as well as the recovery that we hope will gain momentum later this year. We would like to thank all of our stakeholders and colleagues for their support in this tumultuous year.”

Financial Highlights

Our financial highlights for the year ended 31 December 2020 are:

• Total revenues and other income were up 4% year-on-year, at US$2,054 million

• Profit before tax was US$563 million and net profit after tax was US$510 million, 

both of which declined 27% from 2019

• Earnings per share of US$0.73 and net assets per share of US$6.88

• Total assets increased 19% year-on-year, to US$23.6 billion at 31 December 2020

• Raised US$5.5 billion in new financing

• Maintained strong liquidity with US$408 million in cash and cash equivalents, and 

US$4.7 billion in undrawn committed credit facilities at 31 December 2020

• Operating cash flows net of interest paid increased 13% year-on-year to US$1,355 

million 

• Board recommended a final dividend for 2020 of US$0.1173 per share, pending 

approval at the AGM to be held on 3 June 2021. The final dividend will be payable 

to Shareholders registered at the close of business on the record date, being 11 

June 2021, bringing the total dividend for the financial year 2020 to US$0.25711 per 

share

Portfolio and Operational Highlights

As at 31 December 2020, BOC Aviation:

• Had a total fleet of 553 aircraft owned, managed and on order2, with an average 

aircraft age of 3.5 years and an average remaining lease term of 8.6 years for the 

358 owned aircraft fleet, weighted by net book value3

• Leased aircraft to 87 airlines in 39 countries and regions

• Had taken delivery of 54 aircraft4 in 2020

• Sold 12 owned aircraft in 2020

• Signed 102 lease commitments in 2020

• Had an orderbook of 155 aircraft2

• Recorded aircraft utilisation of 99.6% for the owned portfolio for the year ended 31 

December 2020

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Another Airbus A320neo for Air China

BOC Aviation Limited has confirmed it has delivered the final aircraft of ten new Airbus A320neo aircraft to Air China. The aircraft is powered by Pratt & Whitney GTF™ PW1100G-JM engines.

 Mr Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation, said, “This delivery reflects the level of cooperation that we have built with Air China, with significant teamwork on both sides needed in the delivery of all ten A320NEO aircraft.

We look forward to further developing our long and successful relationship with Air China as we continue to provide our airline customers with more fuel-efficient and technologically advanced aircraft solutions,” added Mr. Martin. 

 

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BOC Aviation releases December and year end operational digits

BOC Aviation has released details of its operational transactions for the fourth quarter and year ended 31 December 2020, which makes interesting reading for those in the aircraft supply and lease industries. 

Robert Martin, Managing Director and Chief Executive Officer, said, “We are pleased to record a robust operational performance in 2020, executed in a challenging environment. We supported our airline customers and added high quality assets to our portfolio, including taking delivery of our 300th Boeing aircraft. During the year, we took delivery of 54 aircraft, 16 of which were delivered in December, and we sold 12 aircraft. We ended the year as the most valuable listed aircraft operating leasing company with a market capitalisation of US$6.0 billion.”

As at year end, BOC Aviation had available liquidity of over US$5 billion comprising cash and undrawn credit facilities. Steven Townend, Deputy Managing Director and Chief Financial Officer, commented, “We continue to lead the industry with one of the best credit ratings, being A- from both S&P Global Ratings and Fitch Ratings, a young average fleet age of 3.5 years and a long average remaining lease term of 8.6 years.”

BOC Aviation well placed for future developments with increase in credit facility position.

BOC Aviation Limited has confirmed it has increased the amount of the committed, unsecured revolving credit facility from its largest shareholder, Bank of China and extended the maturity to 2026.

BOC Aviation is a global aircraft operating leasing giant with a fleet of 555 aircraft owned, managed and on order. Its owned and managed fleet was leased to 87 airlines worldwide in 39 countries and regions as at 30 September 2020. The headquarters are based in Singapore with offices in Dublin, London, New York and Tianjin.

The new terms of the facility now provide the Company with US$3.5 billion to support its future growth, an increase of US$1.5 billion. The final maturity of the RCF has also been extended from 28 April 2022 to 31 December 2026. 

First of four Airbus A321NEO delivered to IndiGo

BOC Aviation Limited, a leading global aircraft operating leasing company with a fleet of 555 aircraft owned, managed, and on order, has confirmed the delivery of the first of four new Airbus A321NEO aircraft for lease to IndiGo. 

These fuel-efficient aircraft will be powered by CFM Leap engines.  Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation, said: “We are very pleased to deliver the first of four new Airbus A321NEO aircraft on lease to IndiGo, India’s largest passenger airline, and we’re pleased to have an opportunity to build on our relationship with IndiGo.”

“This incremental capital expenditure for larger narrow-body new technology aircraft continues to reflect our disciplined investment in popular and in-demand aircraft, as we work closely with industry-leading airlines such as IndiGo, to provide more fuel-efficient and technologically advanced aircraft solutions,” added Mr. Martin.

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BOC Aviation took delivery of six aircraft in the third quarter of 2020

Operational performance from BOC Aviation for third quarter 2020 

BOC Aviation Limited has released its operational transactions for the third quarter ended 30 September 2020. During the period the company signed thirteen lease commitments and took delivery of six aircraft. 

 

Transactions Summary 

·         A total fleet of 555 aircraft owned, managed and on order1

·         An average aircraft age of 3.6 years and an average remaining lease term of 8.5 years for the 335 owned aircraft fleet, weighted by net book value

·         Order book of 180 aircraft1

·         Took delivery of six aircraft in the third quarter of 2020

·         Signed 13 lease commitments in the third quarter of 2020

·         Customer base of 87 airlines in 39 countries and regions in the owned and managed portfolios

·         Sold five owned aircraft in the third quarter of 2020

·         Managed fleet comprised 40 aircraft, with three single aisle aircraft off lease, one of which has been committed for lease

·         Owned aircraft utilisation at 99.7%, with two single aisle aircraft off lease of which both have been committed for lease

BOC Aviation is a leading global aircraft operating leasing company with a fleet of 555 aircraft owned, managed, and on order. Its owned and managed fleet was leased to 87 airlines worldwide in 39 countries and regions as at 30 September 2020. BOC Aviation is listed on the Hong Kong Stock Exchange (HKEx code: 2588) and has its headquarters in Singapore with offices in Dublin, London, New York and Tianjin.

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