Photo: BOC Aviation

LONDON – BOC Aviation Limited announces its operational transactions for the fourth quarter and full year ending December 31, 2020.

As at year culminated, BOC Aviation had available liquidity of over US$5 bn comprising cash and undrawn credit facilities.

Photo: BOC Aviation

Operational Data

Transactions Summary

  • A total fleet of 553 aircraft owned, managed and on order
  • An average aircraft age of 3.5 years and an average remaining lease term of 8.6 years for the 358 owned aircraft fleet, weighted by net book value
  • Order book of 155 aircraft
  • Took delivery of 25 aircraft in the fourth quarter of 2020, and 54 in 2020 (including one acquired by an airline customer on delivery)
  • Signed 12 lease commitments and extensions in the fourth quarter of 2020, bringing the total for 2020 to 102
  • Customer base of 87 airlines in 39 countries and regions in the owned and managed portfolios
  • Sold two owned aircraft in the fourth quarter of 2020, which brought the total number of owned aircraft sold during the year to 12
  • Owned aircraft utilisation at 99.6% for the full year, with one single aisle aircraft off lease as at year end and committed for lease
  • Managed fleet comprised 40 aircraft, with three single aisle aircraft off lease, one of which has been committed for lease
BOC Aviation Portfolio

Statement from BOC Aviation

Robert Martin, Managing Director and CEO of BOC Aviation, 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 capitalisation of US$6 bn.”

Steven Townend, Deputy Managing Director and CFO, said, “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.”

Featured image: Photo: BOC Aviation