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BOC Aviation Net Profit Up 22 Percent
30-Mar-2017

BOC Aviation Net Profit Up 22 Percent

March 27, 2017


Singapore based aircraft lessor BOC Aviation announced full year 2016 results showing net profit of USD$418 million.

The result was a 21.8 percent increase from 2015’s USD$343 million profit. Revenue grew 9.4 percent to USD$1.19 billion in the period to end December 2016.

BOC Aviation delivered 67 aircraft to airlines during 2016, driven by the growth in air travel and carrier demand, particularly in Asia Pacific.

The company noted that IATA’s passenger traffic growth estimate for 2016 was 6.3 percent, and that it is projecting growth at or above average growth rates in 2017. It warned that passenger travel demand can be sensitive to external shocks such as terrorism, but it would mitigate risks by maintaining a young, in-demand portfolio of aircraft.

At year-end, BOC Aviation had a roster of 284 owned and managed aircraft, leased to 68 airlines. The company’s outstanding orders book stood at 199 aircraft, with 71 to be delivered during 2017.

(Airwise)
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