BOC Aviation celebrates 10 years of Bank of China ownership

Eleanor Steed
By Eleanor Steed December 15, 2016 13:04

BOC Aviation celebrates 10 years of Bank of China ownership

BOC Aviation is celebrating the 10th anniversary of the acquisition of the company by Bank of China.

When BOC acquired 100% of the Company’s equity for US$965 million on 15 December 2006, it had a fleet of 77 owned and managed aircraft and total assets of US$3.1 billion. Ten years on, BOC Aviation is publicly listed on the Hong Kong Stock Exchange with a market capitalisation of US$3.5 billion, a fleet of 269 owned and managed aircraft, total assets of US$13.6 billion and investment grade credit ratings of A- from Standard and Poor’s and Fitch.

Since inception in November 1993, BOC Aviation has purchased more than 680 aircraft; signed more than 660 leases; sold more than 240 aircraft; and since the acquisition by BOC, raised more than US$18 billion in debt financing.

”Since the acquisition by Bank of China in 2006, we have more than trebled our fleet size, quadrupled our total assets and completed a very successful initial public offering,” said Robert Martin, Managing Director and Chief Executive Officer of BOC Aviation. “We have achieved this by working in partnership with the BOC Group and we would like to thank our shareholders, customers, suppliers, directors and colleagues for their support over the last ten years.”

Eleanor Steed
By Eleanor Steed December 15, 2016 13:04