News
BOC Aviation flags first half loss to US$330 million from aircraft stranded in Russia
July 5th 2022
BOC Aviation has forecast a net loss of US$310 million to US$330 million for the six months to June 30. Read More » The aircraft lessor has informed the Stock Exchange of Hong Kong the interim loss will be due to aircraft stranded in Russia. “At June 30, 2022, 17 of the 18 aircraft remain in Russia and the company believes it is unlikely to recover those aircraft from Russia in the foreseeable future, if ever,” BOC Aviation said. “The board has therefore determined the net book value of the 17 aircraft, US$803.6 million at June 30, 2022, should be written down to zero.” BOC Aviation reported a US$254 million net profit in the six months to June 30, 2021. Its 2022 interim results are scheduled for release in August.
