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BOC in process of recovering 18 aircraft formerly leased to Russian airlines
April 8th 2022
BOC Aviation said in a regulatory filing to the Stock Exchange of Hong Kong it is in the process of recovering 17 owned and one managed aircraft formerly leased to Russian airlines. Read More » The leases on these aircraft were terminated in March in compliance with international sanctions imposed on Russia after it invaded Ukraine on February 24. "The net book 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 at March 31, 2022," the lessor said. BOC’s latest quarterly report shows it completed 42 transactions in the three months to March 31: seven aircraft deliveries, 13 new aircraft purchases and 22 signed lease commitments. The company had 420 owned or managed aircraft with another 110 on order at March 31, compared with 417 owned or managed aircraft and 104 ordered at December 31, 2021.
