BOC AVIATION announces its full year 2015 results

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By admin March 1, 2016 22:06

BOC AVIATION announces its full year 2015 results

BOC Aviation has reported another successful year for 2015.

“In 2015, BOC Aviation had another very successful year, with record net profit after tax of US$343 million, an 11% increase over 2014,” said Robert Martin, Managing Director and Chief Executive Officer. “The owned and managed fleet grew to 270 aircraft, and together with 241 aircraft purchase commitments at the year-end, our total fleet was 511 aircraft.”

BOC Aviation’s net profit after tax was US$343 million, an increase of 11% over the prior year, increasing total equity to US$2.4 billion. Total revenues and other income rose 10% to US$1.09 billion, while total assets grew 9.4% to US$12.5 billion at year-end.

The lessor maintained strong liquidity with US$507 million in total cash, bank balances and fixed deposits, and more than US$2.7 billion in committed revolving credit facilities. It also maintained its A- investment grade credit ratings from Standard & Poor’s and Fitch Ratings.

As of 31 December 2015, BOC Aviation has a portfolio of 270 aircraft, comprising 227 owned and 43 managed aircraft, which are leased to 62 airlines in 30 countries. The average age of owned aircraft of 3.3 years, weighted by net book value, while the average lease term remaining of 7.4 years for owned fleet, weighted by net book value. BOC Aviation’s fleet utilization is 100% for 2015.

BOC Aviation’s highlights of 2015 include signing 46 leases, delivering 40 new aircraft, ordering 241 aircraft with scheduled deliveries through 2021, the sale of 44 owned and managed aircraft, and not forgetting raising more than US$2 billion in financing.

admin
By admin March 1, 2016 22:06