BOC Aviation orders 82 Boeing jets
August 27, 2014
Published on Aug 27, 2014
The Singaporean leasing company is responding to increased demand for leased aviation assets
Singapore Aircraft leasing company, BOC Aviation, revealed Monday an order for 82 Boeing aircraft, valued at US$8.8 billion at list prices.
"Following the successful placement of the 50 Next Generation 737 aircraft that we ordered in 2006, this is a continuation of our commitment to be responsive to airline customers which are expanding or replacing older fleets," said Robert Martin, managing director and chief executive officer, BOC Aviation.
The order comes as the company experiences a rush in air financing, and strong demand from airlines. Aircraft leasing is becoming an increasingly popular means of fleet management, as airlines look to maintain modern fleets with high fuel efficiency, while also maintain lean balance sheets.
The largest order in the company's 20 year history includes 50 737 MAX 8s, 30 Next-Generation 737-800s and two 777-300ERs, and adds to BOC Aviation's fleet, which is among the youngest in the leasing industry with an average of less than four years.
It will take delivery of the new aircraft between 2016 and 2021, as the company builds on its pipeline for the next seven years.
Owned by the Bank of China, the leasing company serves 56 airlines across 30 countries worldwide. As of 30 June, BOC Aviation's fleet of 251 delivered aircraft included 118 Boeing aircraft operated by 27 airlines, of which 95 aircraft were 737 NGs.
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