BOC Aviation has a new chairman.....

BOC Aviation Limited has confirmed today the appointment of Mr. Liu Jin as Chairman, with effect from 24th April 2023.

Mr. Liu has been serving as the Vice Chairman of the Board of Directors and as an Executive Director of Bank of China Limited (“BOC”) since June 2021 and President of BOC since April 2021. He also began serving as Vice Chairman of the Board of Directors of BOC Hong Kong (Holdings) Limited as of August 2021.

 

Prior to joining BOC in 2021, Mr. Liu served as Executive Director of China Everbright Group from December 2019 to March 2021, President of China Everbright Bank from January 2020 to March 2021, and Executive Director of China Everbright Bank from March 2020 to March 2021. From September 2018 to November 2019, he worked at China Development Bank as its Executive Vice President. Mr. Liu had previously worked in Industrial and Commercial Bank of China (ICBC) for many years, serving as Deputy General Manager of its Shandong Branch, Vice Chairman, Executive Director, General Manager of ICBC (Europe) and General Manager of ICBC Frankfurt Branch, General Manager of the Investment Banking Department of its Head Office, and General Manager of its Jiangsu Branch.

 

Mr. Liu graduated from Shandong University in 1993 with a Master of Arts degree. He holds the title of Senior Economist.

BOC Aviation latest results.....

BOC Aviation is a leading global aircraft operating leasing company with a fleet of 635 aircraft owned, managed and on order.  Its owned and managed fleet was leased to 86 airlines in 39 countries and regions worldwide as of 31 March 2023.   

Robert Martin, Managing Director and Chief Executive Officer, said, “The first quarter of 2023 was a successful period for us. At the end of the quarter, we had placed all new aircraft scheduled for delivery in 2023 and had lease commitments signed for all but one aircraft with leases expiring this year, which reflects the strong demand amongst the world’s airlines for modern technology aircraft. Our collection rate was 103% for the quarter, demonstrating the improving financial health of our airline customers and the speed with which they are recovering from the pandemic.”

Transactions Summary 

A total fleet of 635 aircraft owned, managed and on order1

An average aircraft age of 4.6 years and an average remaining lease term of 8.0 years for the 393 owned aircraft fleet, both weighted by net book value

Order book of 207 aircraft1

Executed a total of 23 transactions in the first quarter of 2023, including:

Commitments to purchase three aircraft

Delivery of two new aircraft

Sale of one owned aircraft

13 lease commitments  

The customer base of 86 airlines in 39 countries and regions in the owned and managed portfolios 

Managed fleet comprising 35 aircraft, with all aircraft on lease2

Owned aircraft utilization improved to 99% as of 31 March 2023, with two single-aisle and two twin-aisle aircraft off lease2. As of the date of publication, all but one aircraft are committed for lease

Notes:

Includes all commitments to purchase aircraft including those where an airline customer has the right to acquire the relevant aircraft on delivery.

Excludes 17 owned and one managed aircraft that remain in the possession of certain Russian airlines despite the termination of the leases with those airlines.

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

BOC Aviation reports 29th year of profitibility

BOC Aviation Limited has just announced its audited results for the year ending 31 December 2022, in which the aircraft leasing firm recorded a net profit after tax (NPAT) for the period of US$20 million, as a strong second-half performance offset the first-half write-down of the value of aircraft formerly leased to airlines in Russia. 

BOC Aviation's core NPAT and core earnings per share of US$527 million and US$0.76, respectively, when adjusted to exclude the Russian impact, were little changed from the US$561 million and US$0.81 that we reported in 2021.

During the year ended December 2022 the company generated record operating cash flow net of interest expense of US$1.5 billion, the collection rate exceeded 100%, and BOC Aviation ended the year with US$5.3 billion in available liquidity.

The Board has decided to base the final dividend for 2022 on core net profit after tax and has recommended a final dividend of US$0.1770 per share, 2% greater than that paid for the same period in 2021. This will bring the total dividend for 2022 to US$0.26591 per share and recognises the importance many of our investors place on steady distributions.

BOC Aviation announces a new deputy chief operating officer.

BOC Aviation Limited has announced the appointment of Thomas Chandler as Deputy Chief Operating Officer, with effect from 30th January 2023.

 

In this newly created role, Tom will oversee all legal and transaction management, technical and procurement departments of the company globally and will report to David Walton, Deputy Managing Director and Chief Operating Officer.

 

Tom brings with him more than twenty-five years of experience in legal, banking and aviation sectors and joins from TUI Group, where he was Managing Director, Fleet and Asset Management. He has worked with diverse international teams in procurement, leasing, financing and trading, and has closed numerous high value aircraft transactions in the process.

 

“We are delighted to announce Tom’s appointment as Deputy Chief Operating Officer and look forward to leveraging his experience and capabilities,” said Robert Martin, Managing Director and Chief Executive Officer. “Our ability to attract such top rate external talent confirms BOC Aviation as an employer of choice within the aviation sector.”

 

    BOC Aviation Limited announces its operational transactions for the fourth quarter and year ended 31 December 2022.

 

Robert Martin, Managing Director and Chief Executive Officer, said, “2022 was a challenging year in which we continued to focus on the long term and passed new milestones, having committed to purchasing more than 1,020 aircraft since our inception in 1993, including 147 aircraft that were committed to in 2022. We are now in our 30th year of operation and will continue to build a solid foundation for future revenue growth."

 

David Walton, Deputy Managing Director and Chief Operating Officer, added, “2022 marked a year of strong operational performance where we took delivery of 34 new aircraft and transitioned 21 used aircraft to airline customers, while maintaining one of the industry’s youngest average fleet ages at 4.4 years and a long average remaining lease term of 8.1 years.”

 

Transactions Summary 

 

·       A total fleet of 633 aircraft owned, managed and on order1

 

·        An average aircraft age of 4.4 years and an average remaining lease term of 8.1 years for the 392 owned aircraft fleet, both weighted by net book value

 

·        Order book of 206 aircraft1

 

·        Executed 82 transactions in the fourth quarter of 2022 and a total of 298 in 2022, including:

Commitments in the fourth quarter to purchase 41 aircraft and a total of 147 in 2022

Delivery of eight new aircraft in the fourth quarter, and a total of 34 in 2022 

Sale of 11 owned aircraft in the fourth quarter, which brought the total number of owned and managed aircraft sold during the year to 18

13 lease commitments in the fourth quarter, bringing the total for 2022 to 78 

 

·        Customer base of 84 airlines in 39 countries and regions in the owned and managed portfolios 

 

·        Managed fleet comprised 35 aircraft, with one single aisle aircraft off lease2. The off-lease aircraft is committed for lease

 

·       Owned aircraft utilisation stable at 96% as at 31 December 2022, with three single aisle and four twin aisle aircraft off lease2. All twin aisle and one single aisle aircraft are committed for lease

Notes:

Includes all commitments to purchase aircraft including those where an airline customer has the right to acquire the relevant aircraft on delivery.

Excludes 17 owned and one managed aircraft that remain in the possession of certain Russian airlines despite the termination of the leases with those airlines.

BOC orders 40 Boeing 737 MAX 8 jets

BOC Aviation Limited recently confirmed it had entered into an agreement with The Boeing Company to purchase 40 new Boeing 737 MAX 8 aircraft.  All aircraft are scheduled for delivery in 2027 and 2028.

“We are pleased to continue to build on our existing relationship with Boeing, with this 40-aircraft incremental order for the fuel-efficient Boeing 737 MAX 8 aircraft.  The incremental aircraft takes our total 737 MAX 8 orderbook with Boeing to 80 aircraft,” said David Walton, Deputy Managing Director and Chief Operating Officer. “We look forward to continuing to provide one of the industry’s most technologically advanced aircraft for delivery on lease to our airline customers, to support their sustainable growth over the balance of this decade.”

“We are proud that BOC Aviation continues to invest in the 737-8 with its industry-leading versatility and ability to fly almost any short and medium-haul market profitably,” said Ryan Weir, vice president of Global Leasing Sales, Boeing Commercial Airplanes. “We look forward to more opportunities to expand our relationship to support BOC Aviation and its customers.”

BOC Aviation names Angela Ng as Chief People Officer

BOC Aviation Limited has confirmed the appointment of Angela Ng as Chief People Officer, with effect today, 1st December 2022.

Angela will oversee all human resource functions of the Company globally and will report to Robert Martin, Managing Director and Chief Executive Officer.

Angela brings with her 30 years of experience in banks, sovereign wealth fund and government-affiliated company, with expertise ranging from policy, recruitment, compensation, global mobility to digital HR. 

“We are delighted to welcome Angela to her new role as we celebrate our 29th anniversary, having built a solid global business over the last 29 years. We look forward to working with Angela to continue deepening our talent pool and growing our Company,” said Robert Martin, Managing Director and Chief Executive Officer.

BOC Aviation signs massive $500 million club loan.

BOC Aviation Limited has confirmed it has signed a US$500 million unsecured term loan facility (the “Facility”) with a tenor of five years. The Facility will be used to repay a maturing term loan facility. The borrower under the Facility is BOC Aviation (Ireland) Limited and the Facility is guaranteed by BOC Aviation.

Bank of Communications., Ltd. Hong Kong Branch, Bank of Communications., Ltd. Singapore Branch, China Everbright Bank Co., Ltd. Hong Kong Branch, The Hongkong and Shanghai Banking Corporation Limited, KfW IPEX-Bank, National Bank of Kuwait S.A.K.P., Singapore Branch, Oversea-Chinese Banking Corporation Limited and Westpac Banking Corporation, Singapore Branch, are lenders to the Facility. Westpac Banking Corporation is the Global Coordinator and Documentation Agent for the Facility.

“We are very pleased to conclude another unsecured term loan financing at a similar pricing level to our existing deal,” said Steven Townend, Deputy Managing Director and Chief Financial Officer of BOC Aviation. “This commitment from a diverse group of lenders signals their confidence in our Company’s strong credit profile and will support our future growth.”

BOC Aviation releases latest operational transactions.

BOC Aviation Limited has just released its operational transactions for the quarter that ended 30th September 2022:

 

Transactions Summary 

 

·       A total fleet of 612 aircraft owned, managed and on order¹

 

·        An average aircraft age of 4.3 years and an average remaining lease term of 8.2 years for the 395-owned aircraft fleet, both weighted by net book value

 

·        Order book of 181 aircraft¹

 

·        Executed a total of 44 transactions in the third quarter of 2022:

• Committed to purchasing nine new aircraft
• Delivered 12 aircraft on lease to airlines
• Sold one owned and one managed aircraft
• Signed 21 lease commitments

 

·        Customer base of 81 airlines in 38 countries and regions in the owned and managed portfolios 

 

·        Managed fleet comprising 36 aircraft, with two single-aisle aircraft off lease²

·        Owned aircraft utilisation stable at 96%, with eight single-aisle, five twin-aisle and one freighter aircraft off lease². All aircraft are committed for lease

 

Portfolio as of 30 September 2022

 

Notes:

1. Includes all commitments to purchase aircraft including those where an airline customer has the right to acquire the relevant aircraft on delivery.
2. Excludes 17 owned and one managed aircraft that remain in the possession of certain Russian airlines despite the termination of the leases with those airlines.

 

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

BOC Aviation is a leading global aircraft operating leasing company with a fleet of 612 aircraft owned, managed and on order.  Its owned and managed fleet was leased to 81 airlines in 38 countries and regions worldwide as at 30 September 2022. 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.

Turkish Airlines gets final 737 MAX jet from an order with BOC Aviation

BOC Aviation Limited is a leading global aircraft operating leasing company with a fleet of 608 aircraft owned, managed and on order has confirmed it has delivered the final aircraft of seven new Boeing 737 MAX 8 aircraft to Turkish Airlines. 

 

“This delivery reflects the strong level of cooperation that we enjoy with Turkish Airlines, building on our 18-year relationship,” said Mr. Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation. “We look forward to further developing our long and successful partnership with Turkish Airlines as we continue to provide our airline customers with more fuel-efficient and technologically advanced aircraft solutions,” added Mr. Martin.

BOC's owned and managed fleet was leased to 79 airlines in 36 countries and regions worldwide as of 30 June 2022. 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.

 

Turkish Airlines, is a company incorporated in Turkey and its shares are listed on the Borsa Istanbul. Its principal business is the operation of scheduled airline services, which is conducted from its primary hub at Istanbul Airport. Turkish Airlines is a member of the Star Alliance and currently operating a fleet of 382 aircraft.

Air Models have a range of aircraft models, including some special 737 MAX models, including this one in the colours of flydubai.  

Other airlines featured include Air China,  Xiamen Air and China Southern 

Six new Airbus A320NEOs for JetSMART

Leasing firm BOC Aviation announced a deal that will see it place six Airbus A320NEO aircraft with South American ultra-low-cost carrier JetSMART Airlines, which will be powered by Pratt & Whitney’s PurePower PW1100G-JM engines.  

 Founded in 2016, JetSMART Airlines is an ultra-low-cost carrier that operates many domestic flights in Chile, Argentina and Peru as well as offering international services to Colombia, Uruguay and Brazil. The airline has carried more than 10 million passengers and is part of the airline portfolio of Indigo Partners, which also owns Frontier Airlines, Wizz Air, Volaris,  Lynx Air and Cebu Pacific. 

"We are excited to work with BOC Aviation in the management of our fleet plans towards becoming the ultra low cost carrier in South America" said Matt Bernier, CFO of JetSMART.

“We are delighted to welcome JetSMART as a new customer and we look forward to supporting the airline’s growth plans in the South American region,” said Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation. “This transaction is testament to BOC Aviation’s ability to provide our customers with large-scale financing solutions as well as technologically advanced aircraft.”

BOC's latest results....

BOC Aviation, one of the leading firms in aircraft leasing and management has just released its latest transactions which showed they have a total fleet of 608 aircraft owned, managed and on order.  The average aircraft age of just 4.1 years and an average remaining lease term of 8.4 years for the 390-owned aircraft fleet. 

BOC is committed to purchasing 84 new aircraft and took delivery of 13 aircraft (including one acquired by an airline customer on delivery),  sold five owned aircraft and signed 24 lease commitments.

BOC has a customer base of 79 airlines in 36 countries and regions in the owned and managed portfolios, managed fleet comprised 37 aircraft, with four single-aisle aircraft off lease, of which, three are committed for lease.  Owned aircraft utilisation at 96.1%, with 11 single aisle, five twin-aisle and one freighter aircraft off lease2. Nine single-aisle aircraft and all five twin-aisle aircraft are committed for lease.

New lease deal for Icelandair on two Boeing 737 MAX aircraft

Icelandair has entered into agreements with BOC Aviation (BOCA), regarding long-term operating leases of two new Boeing 737 MAX 8 aircraft. The aircraft are scheduled to be delivered from Boeing in the fall of 2023. This transaction will bring the total number of 737 MAX in the Icelandair fleet up to 20 aircraft. 

Bogi Nils Bogason, CEO of Icelandair Group: “We are pleased to announce the new agreements with BOCA, a long-lasting business partner. Locking in these aircraft favorable on favorable terms enables the company to expand our fleet of Boeing 737 MAX and supports our future growth plans. The aircraft offer excellent fuel-efficiency from previous generation aircraft which also contribute to our efforts of reducing the carbon emissions from our operations.” 

Icelandair, a shadow of its once-massive travel and hospitality empire is facing much greater competition from homegrown rival Play and the major U.S. airlines and has been struggling financially for some time, but now appears to have turned a corner. During the month of May, it carried a total of 290,524 on international flights, with the number of passengers to Iceland was around 116,000 and from Iceland around 51,000. Via passengers were around 124,000 or 43% of the total number of international passengers. The carrier's load factor on international flights was up to 74%, compared to 35% in May 2021.   

Air Models have a range of aircraft models, including some special 737 MAX models, including this one in the colours of flydubai.  

Other airlines featured include Air China,  Xiamen Air and China Southern 

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The first of seven Boeing 737 MAX 8 aircraft has been delivered to Turkish Airlines from the leasing giant BOC Aviation Limited.

 The first of seven Boeing 737 MAX 8 aircraft has been delivered to Turkish Airlines from the leasing giant BOC Aviation Limited.   All seven aircraft are part of the Company’s existing order book and will be powered by CFM LEAP-1B engines.

“We are delighted to build on our 18-year relationship with Turkish Airlines and to support the airline in its fleet development plans with the most fuel-efficient, technologically advanced aircraft,” said Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation. “This transaction illustrates our strategy of long-term, sustainable growth by building a portfolio of latest technology aircraft.”

 

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BOC gets new Head of Treasury

The Bank of China is sliding in a new  Head of Treasury at its leasing firm BOC Aviation with immediate effect. 

Chan Mui Sin takes over the role from Peter Davis who is retiring but will remain with the company until 31^st May 2022 to ensure a smooth transition.

 

In her new role, Mui Sin will oversee all treasury functions of the company globally and will report to Steven Townend, Deputy Managing Director and Chief Financial Officer.

 

Mui Sin has been with the Company for over 16 years and was Executive Vice President and Deputy Head of Aircraft Sales. Prior to joining BOC Aviation, she spent more than eight years as an investment banker covering origination and transaction management for both the debt and equity capital markets. Mui Sin has an Accountancy degree (Hons) and is a CFA Charter holder.

 

“We thank Peter for his contributions to the Company over many years,” said Robert Martin, Managing Director and Chief Executive Officer. “We are delighted to announce Mui Sin’s promotion to Head of Treasury and this appointment underlines the deep reserves of talent available within our Company.”

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Massive order for 80 Airbus planes from leasing giant BOC Aviation

BOC Aviation Limited has entered into an agreement with Airbus to purchase 80 new Airbus A320NEO family aircraft.  All aircraft are scheduled for delivery between 2027 and 2029.

 

“We are proud to continue our long-standing relationship with Airbus, with whom we have partnered for more than 26 years,” said Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation. “This is the largest single order that we have ever placed and it will bring our total Airbus aircraft purchased since inception to 546. It underscores our continued confidence in the A320NEO family for its reliability and operational efficiency and reflects the popularity of the aircraft amongst our airline customers. We look forward to continuously providing our customers with such fuel-efficient and technologically advanced aircraft solutions.”

 

“Airbus thanks BOC Aviation for its unwavering trust and endorsement of the A320NEO Family with its single largest order ever placed,” said Christian Scherer, Airbus Chief Commercial Officer and Head of Airbus International. “This significant long-term order for 80 additional aircraft is a great testimony of the sustained value of our single aisle products by one of the world’s leading lessors, BOC Aviation. We salute its vision and foresight in securing future delivery positions of these most desirable assets in the single aisle segment now and in the longer run.”

The A320neo Family incorporates new generation engines and Sharklets, which together deliver at least 20  percent fuel and CO2 savings, as well as a 50 percent noise reduction. The A321XLR version provides a further range extension to 4,700nm. This gives the A321XLR a flight time of up to 11 hours, with passengers benefitting throughout the trip from Airbus’ award-winning Airspace interior, which brings the latest cabin technology and design to the A320 Family.

At the end of February 2022 the A320neo Family had totalled more than 7,900 orders from over 120 customers. Since its Entry into Service six years ago, Airbus has delivered over 2,100 A320neo Family aircraft contributing to 10 million tons of CO2 saving.

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BOC's first quarter 2022 results.

BOC Aviation is a leading global aircraft operating leasing company with a fleet of 530 aircraft owned, managed and on order.  Its owned and managed fleet was leased to 78 airlines in 36 countries and regions worldwide as of 31 March 2022. The Singapore based firm has just released details of its performance in the first quarter. 

 

Transactions Summary 

 

·       A total fleet of 530 aircraft owned, managed and on order1

·        An average aircraft age of 4.1 years and an average remaining lease term of 8.2 years for the 383         owned aircraft fleet, both weighted by net book value

·        Order book of 110 aircraft1

·        Executed a total of 42 transactions in the first quarter of 2022:

·          Took delivery of seven aircraft (including four acquired by airline customers on delivery)

·          Committed to purchasing 13 new aircraft

·          Signed 22 lease commitments

·        Customer base of 78 airlines in 36 countries and regions in the owned and managed portfolios 

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

·       Owned aircraft utilisation at 96.7%, with seven single-aisle, five twin-aisle and one freighter                 aircraft off lease

 

The off-lease aircraft numbers stated above exclude 17 owned and one managed aircraft that were formerly leased to airlines in Russia and that are now in the process of being recovered from those airlines.  This follows the termination of the leases of those aircraft in March 2022 in compliance with international sanctions imposed in response to the conflict in Ukraine. The netbook value of the 17 owned aircraft, net of all cash collateral held in respect of those aircraft, was US$589 million representing 2.5% of our total assets as at 31 March 2022.  All letters of credit held by us in respect of those aircraft have been successfully drawn.

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BOC takes back one 747-8 freighter from AirBridge Cargo

BOC  Aviation has repossessed a Boeing 747-8 Freighter that had been leased to Volga-Dnepr Group subsidiary AirBridge Cargo that was in Hong Kong.

The four-engine plane was ferried to California after a judge agreed it should be returned to the leasing giant following legal action started by BOC. In court documents filed on 14th March, the lessor said the plane was worth nearly $150 million and the Russian airline had breached the lease contracts on two other 747-8 cargo planes that were flown to Russia against BOC's wishes after they had grounded them in China. The insurance on those aircraft had been cancelled on 5th March. 

The leasing firm has 18 aircraft currently leased to Russian airlines which could be affected by the insurance cancellation. One of the planes was also flown back to Russia despite having its airworthiness certificate being withdrawn by the Bermudian authorities where the aircraft was registered.  

AirBridge Cargo has refused to make a comment.

BOC is not alone in having difficulty in recovering leased aircraft from Russian airlines, one of the largest leasing firms AerCap has been trying to get some of the 100 or so aircraft it has in the country back. Those attempts have not been successful and it has submitted an insurance claim for some $3.5 billion it says those aircraft are worth. This is the start of what will undoubtedly be a long and intense process which could lead to it being virtually impossible for Russian airlines to be able to lease western planes in future.  

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New Russian law makes it harder for leased aircraft to be returned.

Aircraft leasing firms will find it much harder to repossess aeroplanes in Russia after authorities implemented a new law that allows foreign jets to be registered in Russia.

The main Russian carriers have over 500 leased aircraft with a value of £7.7 billion in the country and those foreign leasing firms only have until 28th March to retrieve aircraft before sanctions are applied.

In the last few days, aviation authorities in both Bermuda and Ireland advised they were suspending the airworthiness certificates of all aircraft in Russia that are on their registrations, which is the bulk of foreign leased aircraft.

The new regulations, signed into law by President Vladimir Putin, would allow those aircraft to be registered in Russia and get their safety certification which allows those planes to keep flying, albeit within Russian airspace. 

SMBC Aviation Capital leases 35 aircraft to Aeroflot, S7 Airlines, Nordstar Airlines, Ural Airlines and Nordwind Airlines and has now complied with sanctions and was terminating those leases.

 AerCap, the leasing giant based in Dublin has a large contingent of its owned fleet currently placed with Russian airlines and is unsure when and if it will get those 152 planes back. BOC Aviation also has a number of aircraft with Russian airlines, however, as a wholly-owned subsidiary of the Bank of China, it is unlikely to repossess those aircraft at this stage. 

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11 Boeing 737 MAX 8s for Lynx Air

Leasing giant BOC Aviation Limited has agreed to purchase 11 new Boeing 737 MAX 8 aircraft from the U.S. planemaker to lease to Lynx Air.  These jets will be powered by CFM LEAP-1B engines and are scheduled for delivery in 2023 and 2024.

“We are pleased to be partnering with BOC Aviation for the lease of 11 of our new aircraft,” said Merren McArthur, CEO, Lynx Air. “The financing of these aircraft is integral to our growth plans as we continue our mission to make air travel accessible to all Canadians. We are looking forward to welcoming Canadians on board these brand-new Boeing 737 MAX airplanes.”

“We are delighted to welcome Lynx as a new customer and are pleased to support the airline’s plans to serve the Canadian travel market with the most fuel-efficient, technologically advanced aircraft,” said Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation. “This transaction demonstrates the innovative financing solutions that we provide for our global customer base and reflects our disciplined investment strategy focused on a portfolio of latest technology aircraft.”

BOC Aviation is a 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. It is wholly owned by the Bank of China. 

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