News
BOC Aviation records 21% profit growth in 2024
March 14th 2025
BOC Aviation has reported net profits after tax of US$924 million for full-year 2024, 21% ahead of the US$764 million net profit it booked in 2023. Read More » Core earnings growth was a large contributor to the better results as were ongoing recoveries related to aircraft the lessor had in Russia. Total revenue and other income increased 4%, to US$2.6 billion, compared with 2023 and total assets rose 4% to a record US$25.1 billion in the reported period. The lessor delivered 38 new aircraft to airline customers last year and said 27 aircraft due for delivery to customers were delayed into 2025. BOC Aviation closed the 2024 year with 467 owned and managed aircraft and an order book of 232 jets. BOC has increased investments in aircraft engines ending 2024 with 10 engines on lease or contracted for sale to airline customers. “All 47 aircraft scheduled for delivery this year are placed with airline customers at favourable rates with all scheduled lease expiries either extended or committed to another customer,” BOC Aviation managing director and CEO, Steven Townend, said. “We aim to build on this strong base of aircraft deliveries throughout the year while pipelining future deliveries to support long-term sustainable growth. The fundamentals underlying our industry remain solid, with passenger demand and airline profitability continuing to rise.”
