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Russia write-downs push BOC Aviation into half-year loss
August 19th 2022
BOC Aviation has reported a net loss of US$313 million for the six months to June 30 compared with a net profit of US$254 million in interim 2021. Read More » The lessor’s results were impacted by US$804 million in write-downs related to the net book value of 17 aircraft that remained in Russia following that country's invasion of Ukraine. Revenue rose 8%, to US$1.2 billion, BOC said in a regulatory filing to the Stock Exchange of Hong Kong. A “robust recovery was underway” in the world's airline and travel sectors, it said. “International travel is catching up rapidly on 2019 levels as border controls are relaxed.”
