BOC Aviation Achieves Record Number of Transactions in 2023
BOC Aviation Limited, a prominent player in the aviation leasing industry, has reported an unprecedented operational performance for the year 2023. Celebrating its 30th anniversary, the company marked the year with its highest ever number of transactions. The significant achievements include 142 lease commitments, surpassing any previous annual record since the company's inception.
In a statement, Steven Townend, Managing Director and CEO of BOC Aviation, highlighted the company's robust performance amidst a strengthening aviation industry. The operational highlights for 2023 include a commitment to purchase 95 aircraft, positioning the company for future growth. A notable achievement was the delivery of 65 aircraft, the most since 2017, signifying the company's expanding influence in the aircraft leasing sector.
The financial health and operational efficiency of BOC Aviation were also evident. Collections maintained a rate exceeding 100% for the second consecutive year, and aircraft utilization improved significantly to 99%, up from 96% in 2022.
Key operational statistics for BOC Aviation in 2023 include:
A total fleet of 684 aircraft, encompassing owned, managed, and ordered units.
The owned aircraft fleet, comprising 426 aircraft, had an average age of 4.6 years and an average remaining lease term of 8.1 years.
The managed fleet included 34 aircraft.
The order book stood at 224 aircraft.
A total of 128 transactions were executed in the fourth quarter, contributing to a yearly total of 348 transactions. This included the purchase commitments for 31 aircraft in the fourth quarter and 95 throughout the year.
BOC Aviation sold 15 owned aircraft in the fourth quarter, bringing the annual total to 20.
The company completed 35 lease commitments in the final quarter, contributing to the yearly total of 142.
Funding activities saw the raising of US$650 million through five-year bonds in the fourth quarter, with total funding exceeding US$4 billion for the year.
The company's global reach was also highlighted, with a customer base spanning 91 airlines across 45 countries and regions in the owned and managed portfolios.
