Leasing
BOC Aviation increases interim profit and orders five additional A321ceos
September 2nd 2016
BOC Aviation has reported a 24% first-half net profit growth, to $212 million. The lessor’s revenues and other income for the first six months to June 30 rose 8.2%, to $579 million. Read More » Core lease rental contributions rose 8%, to $220 million.
BOC CEO, Robert Martin, said: "We completed a very successful first half of 2016. We positioned our business for future growth through our successful listing on the Stock Exchange of Hong Kong where we raised net proceeds of $550 million in primary equity capital, creating the largest aircraft operating leasing company initial public offering in history."
BOC has a portfolio of 265 owned and managed aircraft, with an average aircraft age of 3.3 years and an average remaining lease term of 7.2 years for its owned aircraft fleet, weighted by net book value. The lessor has a further 218 aircraft in its order book, averaging 40 aircraft deliveries a year through to 2021.
On Wednesday, BOC placed an order for five more A321ceos in addition to an order, announced in January, for 30 A320 Family aircraft. The commitment included 15 A321s -eight neos and seven ceos. “We have increased our order for the A321 in response to the market trend and the appetite for larger capacity single-aisle aircraft,” Martin said. BOC is one of Airbus’ top 10 customers, with total orders of 311 aircraft from the Toulouse-based manufacturer. BOC has 64 airline customers in 31 countries.
