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.”