BOC Aviation to buy five new aircraft from Air China worth $1.5 billion – Asia Times


Home Asia Unhedged BOC Aviation to buy five new aircraft from Air China worth $1.5 billion

HONG KONG (Reuters) – Aircraft lessor BOC Aviation Ltd said on Monday it would buy five new planes from Air China, worth a combined $1.5 billion at list prices, and would lease them back to the carrier.

The Asia’s second-biggest aircraft lessor, with a fleet of more than 260 planes, said it would buy three new Boeing B777-300ERs and two new Airbus A330-300 aircraft.

A BoC Aviation signage at their office in Singapore May 16, 2016. REUTERS/Edgar Su

The company expects to take delivery of the aircraft before the end of 2016.

An expanding air travel market in Asia has helped many regional airlines improve their financial performance which in turn is fuelling growth in the leasing sector, BOC Aviation Chief Executive Officer Robert Martin said in August.

(Reporting by Donny Kwok; Editing by Edwina Gibbs)


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Categories: Asia Unhedged, China

Tags: Airbus A330-300, aircraft, aircraft leasing, Atimes, Aviation, BOC Aviation, BOC Aviation Chief Executive Officer Robert Martin, Boeing B777-300ER

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