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A Member of Bank of China Group

Press Release

BOC Aviation Signs Leases with Three Asian Airlines

06 Dec 2007

Singapore-based BOC Aviation has signed lease agreements with three Asian airlines covering seven new Boeing 737-800 aircraft. Four of the aircraft will be leased to Hainan Airlines, two to Shandong Airlines and one to Japanese carrier Skymark Airlines.

While Hainan Airlines and Shandong Airlines are existing customers of BOC Aviation, the deal with Skymark is the first time BOC Aviation has worked with the Tokyo-based low cost carrier. The Skymark aircraft will arrive in 2009, while Hainan Airlines and Shandong Airlines will take delivery of their aircraft in 2010.

Robert Martin, Chief Executive Officer of BOC Aviation said that the latest deals underscored the ongoing strong demand for leased aircraft.

“In the near to medium term, demand for single aisle aircraft both from Airbus and Boeing remains high, with almost no delivery slots at the manufacturers between now and 2012 and only limited supply from the leasing market,” he said.

“Of the 60 aircraft BOC Aviation has on order with Airbus and Boeing for delivery through to 2012, all but 15 have already been leased, with our next available delivery slot in the middle of 2011.”

BOC Aviation is the leading Asia-based aircraft leasing company, with a current fleet of over 70 modern aircraft in service with 30 airlines worldwide. The company is 100% owned by Bank of China.

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