BOC Aviation Signs Lease Agreements with Philippine Airlines for Two Airbus A350-1000s
- Joe Breitfeller
- 4 days ago
- 2 min read
BOC Aviation has announced an agreement for the purchase and leaseback of two Airbus A35-1000 aircraft to Philippine Airlines on long-term operating leases.
On Thursday (December 4, 2025), BOC Aviation Limited announced that they have agreed to purchase and leaseback two Airbus A350-1000 aircraft to new customer Philippine Airlines on long-term operating leases. Both aircraft will be powered by Rolls Royce Trent XWB engines, with the first delivery scheduled for December 2025.
In Thursday’s announcement, BOC Aviation’s CEO, Steven Townend, said,
“We are delighted to welcome PAL as a new customer. This is our first A350-1000 delivery and underscores our commitment to supporting the industry’s development with latest-technology aircraft. As a global aircraft operating lessor, and the largest headquartered in Asia, our financial strength and orderbook allows us to support the growth our airline customers with both capital and capacity.”
Also commenting on the transaction, Philippine Airlines’ President, Richard Nuttall, added,
“The addition of the Airbus A350-1000 to our fleet marks a pivotal step in Philippine Airlines’ ongoing fleet modernization program. This investment not only aligns with our commitment to operating one of the youngest and most fuel-efficient fleets in the region, but also ensures we can deliver world-class comfort, reliability, and efficiency to our passengers. Our partnership with BOC Aviation reinforces our strategy to enhance our global competitiveness while supporting the sustainable growth of our network.”
Philippine Airlines (PAL) is the national flag carrier of the Philippines, and only full-service network airline, as well as the first commercial airline in Asia. PAL’s fleet of Boeing, Airbus, and De Havilland aircraft operate scheduled nonstop flights out of hubs in Manila, Cebu, Clark, and Davao to 31 destinations in the Philippines and 39 destinations in Asia, North America, Australia, and the Middle East. PAL also offers air cargo and charter services, while providing seamless connections throughout the nation and across the world.
Singapore-based BOC Aviation Limited (HKEX Code: 2588) is a leading global aircraft operating leasing company with a portfolio of 812 owned, managed or ordered engines and aircraft. As of September 30, 2025, the company’s owned and managed fleet was leased to 88 airlines in 46 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