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BOC Aviation accepted 15 aircraft in second quarter
July 13th 2018
Singapore-headquartered BOC Aviation has taken delivery of 15 aircraft in the second quarter through to June 13. Read More » The lessor plans to accept a total of 58 aircraft this year, all of which have already been placed with airline customers.
BOC’s current portfolio comprises 324 owned and managed aircraft with an average age of three years and remaining lease terms of an average 8.3 years. The firm has 163 aircraft on order.
Separately, Ireland-based lessor Avolon this week announced it had delivered 13 aircraft in the second quarter, including eight transitions.
As of June 30, Avolon’s portfolio comprised 562 owned and managed aircraft with an average age of 5.2 years and remaining lease terms of an average 6.6 years. Avolon has outstanding orders for 328 aircraft.
In the second quarter, Avolon established asset management platform, Jade Aviation, with China Cinda Asset Management, one of the largest asset managers in China with approximately US$205 billion (RMB 1.3 trillion) assets under management.
Cinda, through its subsidiary Cinda Leasing (HK) Co., Ltd. is the majority shareholder in the new platform with an 80% share. Avolon holds the remainder.
“Avolon, as asset manager, will be the exclusive provider of aircraft to Jade Aviation and Cinda will provide the debt financing for the vehicle, thereby combining Avolon’s lease management service expertise with Cinda’s access to deep pools of capital within Asia,” Avolon said.
Jade Aviation has contracted to acquire a seed portfolio of 7 aircraft, sourced from Avolon’s delivered portfolio.
