Aircraft leasing company lauds growth under BoC
BoC Aviation Limited is pleased to announce it is celebrating the 10th anniversary of the acquisition of the company by Bank of China (BoC).
When BoC acquired 100 percent of the company’s equity for $965 million on December 15, 2006, its fleet has grown rapidly and total assets rose to $3.1 billion.
Ten years on, BoC Aviation is publicly listed on the Hong Kong Stock Exchange with a market capitalization of $3.5 billion, a fleet of 269 owned and managed aircraft, total assets of $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 $18 billion in debt financing.
“Since the acquisition by Bank of China in 2006, we have more than tripled 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 10 years,” he added.
BoC Aviation is a leading global aircraft operating leasing company with a fleet of 484 aircraft owned, managed or on order.
Its owned and managed fleet is leased to 67 airlines worldwide in 31 countries as of September 30, 2016. BoC Aviation is listed on the Hong Kong Stock Exchange (HKEx code: 2588) and has its headquarters in Singapore and offices in Dublin, London, Seattle and Tianjin.