BOC Aviation said 2024 was off to a strong start when it release its operational transactions for the first quarter ended 31 March.
Steven Townend, Chief Executive Officer and Managing Director, said, “We had a strong start to the year, adding 10 aircraft to 2024’s delivery pipeline and signing 31 lease commitments, the best first quarter since 2020. Aircraft sales momentum remains strong and we have sold five aircraft so far in 2024. Meanwhile, our collection rate of 100% reflects the improved financial health of our airline customers and our risk aware culture.”
The company said it had a total fleet of 688 aircraft owned, managed and on order with an average aircraft age of 4.8 years and an average remaining lease term of 7.9 years for the 427 owned aircraft fleet, both weighted by net book value. The company also said it had a managed fleet of 32 aircraft with an order book of 229 aircraft.
BOC Aviation said it executed a total of 54 transactions in the first quarter of 2024, including:
- Commitments to purchase 10 aircraft
- Delivery of five aircraft
- Sale of four owned and one managed aircraft
- 31 lease commitments
The company said its customer base included 90 airlines in 45 countries and regions in the owned and managed portfolios. It said it had an owned aircraft utilisation rate of 99% for the first quarter and it raised US$500 million of five-year bonds.
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