BOC Aviation Reports 13 Pct Profit Increase
Aircraft lessor BOC Aviation announced a 13 percent increase in first half net profit as it added aircraft to its fleet.
Singapore-base BOC Aviation made a net profit of USD$240 million in the six months to end June, from $212 million in the previous year period.
The company added 37 aircraft to its fleet and sold 19, for a net increase of 18. Its fleet size of owned and managed planes grew to 297 during the period, with 196 on order for delivery by 2021.
“BOC Aviation delivered an excellent result in the first half of 2017,” chief executive Robert Martin said. “The net book value of aircraft, including assets held for sale, increased 25 percent compared with the first half of last year, to $12.1 billion.”
Revenue and other income for the period was $670 million, from $579 million in 1H16, a 16 percent increase.
BOC Aviation, which leases aircraft to 75 airlines, said it has placed all aircraft scheduled for delivery in 2017.