Aug 31, 2016: BOC Aviation, aircraft lessor, announced financial results for six months ended June 30.
In the six months ended on June 30, BOC’s net profit was $212 million, from $171 million the previous year. Total revenue rose 8.2 percent to $579 million. In the same period, it signed 41 leases in the first half of 2016.
The aircraft lessor posted a 24 percent first-half net profit boost on strong passenger demand growth from Asia-Pacific airlines.
Robert Martin, managing director and chief executive officer, said, “We completed a very successful first half of 2016, recording net profit after tax of $212 million, a 24 percent increase compared with the six months ended June 30, 2015. We also 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.”
It currently 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.