BOC Aviation reports order book of 110 aircraft

boc aviation Aviation Limited recently announced its operational transactions for the quarter ended 31 March 2022. The company reported:

  • A total fleet of 530 aircraft owned, managed and on order.
  • An average aircraft age of 4.1 years and an average remaining lease term of 8.2 years for the 383 owned aircraft fleet, both weighted by net book value.
  • Order book of 110 aircraft.
  • Executed a total of 42 transactions in the first quarter of 2022.
  • Took delivery of seven aircraft (including four acquired by airline customers on delivery).
  • Committed to purchase 13 new aircraft.
  • Signed 22 lease commitments.
  • Customer base of 78 airlines in 36 countries and regions in the owned and managed portfolios.
  • Managed fleet comprised 37 aircraft, with four single aisle aircraft off-lease.
  • Owned aircraft utilisation at 96.7 percent, with seven single aisle, five twin aisle and one freighter aircraft off-lease.

The off-lease aircraft numbers stated above exclude 17 owned and one managed aircraft that were formerly leased to airlines in Russia and that are now in the process of being recovered from those airlines. This follows the termination of the leases of those aircraft in March 2022 in compliance with international sanctions imposed in response to the conflict in Ukraine. The net book value of the 17 owned aircraft, net of all cash collateral held in respect of those aircraft, was US$589 million representing 2.5 percent of total assets as at 31 March 2022.  All letters of credit held by the company in respect of those aircraft have been successfully drawn.

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