Press Release

BOC Aviation Reports Record Net Profit in 2012

27 Mar 2013

BOC Aviation’s net profit after tax for the financial year ended 31 December 2012 was US$225 million, 12% higher than the previous record of US$201 million achieved last year. The company has maintained consistent profitability since it was founded in November 1993.

During 2012, BOC Aviation’s total assets increased by 20% to US$9.1 billion from US$7.6 billion, with US$614 million in cash and more than US$2 billion in unutilized committed credit facilities at the year end. 

During the year, BOC Aviation secured investment grade credit ratings from Fitch Ratings (A-) and Standard & Poor’s (BBB).

BOC Aviation took delivery of 27 new aircraft, including five from purchase and leaseback transactions, and sold six aircraft. The company ended the year with a portfolio of 203 aircraft of which 177 were owned, two on finance lease, and 24 managed, in service with 56 airlines in 33 countries worldwide. Following a new order for 25 Airbus A320ceo and 25 A320neo family aircraft, BOC Aviation finished the year with an order book of 100 aircraft, and 26 aircraft on committed purchase and leaseback. 

 “In 2013, we will celebrate our 20th anniversary,” said Robert Martin, Managing Director and Chief Executive Officer of BOC Aviation. “After six years under Bank of China ownership, the company has a strong balance sheet and a pipeline of future orders. With an experienced management team and our robust risk management processes, BOC Aviation is well-positioned for the next phase of growth.”

*Note to Editors:

The Company has achieved cumulative net profit after tax of US$925 million since it was acquired by Bank of China on 15 December 2006. BOC Aviation is 100% owned by Bank of China, one of the largest banks in the world.