BOC Aviation Limited, a leading aircraft lessor, has a fleet of 553 owned, managed and aircraft on order with an average age of 3.5 years. The company’s average remaining lease term is 8.6 years for 358 owned aircraft and BOC has 155 aircraft on order.
On Wednesday (January 6, 2021), BOC Aviation Limited, a leading aircraft lessor reported key operational data for the fourth quarter and full year 2020. The company closed the year with over US $5 billion in liquidity including cash and undrawn credit facilities and a fleet of 553 owned, managed and aircraft on order. BOC’s fleet has an average age of 3.5 years and the company’s average remaining lease term is 8.6 years for 358 owned aircraft.
The company currently has 155 aircraft on order and during 2020 took delivery of 54 aircraft, including 25 in the fourth quarter. BOC Aviation signed 12 leasing extensions in Q4, bringing their annual total to 102 and the company maintains a customer base of 87 airlines in 39 countries and territories. The company’s owned aircraft utilization rate for FY20 was 99.6% with a single standard body aircraft off lease and committed at year’s end. BOC’s managed fleet is comprised of 40 aircraft, with three standard body aircraft off lease and one committed. During 2020, the company sold 12 aircraft, including two in the fourth quarter.
In Wednesday’s announcement, BOC Aviation Limited’s Managing Director and Chief Executive Officer, Robert Martin, said,
“We are pleased to record a robust operational performance in 2020, executed in a challenging environment. We supported our airline customers and added high quality assets to our portfolio, including taking delivery of our 300th Boeing aircraft. During the year, we took delivery of 54 aircraft, 16 of which were delivered in December, and we sold 12 aircraft. We ended the year as the most valuable listed aircraft operating leasing company with a market capitalization of US$6.0 billion.”
Also commenting on the company’s 2020 operational data, BOC’s Managing Director and Chief Financial Officer, Steven Townend, added,
“We continue to lead the industry with one of the best credit ratings, being A- from both S&P Global Ratings and Fitch Ratings, a young average fleet age of 3.5 years and a long average remaining lease term of 8.6 years.”
Singapore-based BOC Aviation Limited (HKEX Code: 2588) is a leading global aircraft operating leasing company with a fleet of 553 owned, managed or ordered aircraft. As of December 31, 2020, the company’s owned and managed fleet was leased to 87 airlines in 39 countries and territories. In addition to their Singapore headquarters, BOC maintains offices in Dublin, London, New York and Tianjin. BOC Aviation Limited is a Member of The Bank of China Group.
Source: BOC Aviation Limited