Press Release

BOC Aviation Well Positioned for Downturn

05 Nov 2008

BOC Aviation announced today that it has leased out 19 new aircraft since June this year.  The aircraft, all from the Airbus A320 family, were placed on long term leases with five airlines: Air Berlin, Aeroflot, CSA Czech Airlines, Etihad Airways, and TAM.  Deliveries are scheduled to take place from this month through to April 2011.

Of the 19 aircraft, nine are A319-100 models and ten are A320-200 models.  Two A319s were placed with each of Air Berlin, CSA Czech Airlines, and TAM.  Aeroflot signed leases for three A319s and seven A320s while Etihad Airways signed for three A320s.  Only the CSA transaction was previously announced in June. 

Robert Martin, Managing Director and Chief Executive Officer of BOC Aviation said: “Our recent lease placements are an affirmation that there is continuing demand for new and fuel efficient narrowbody aircraft.  The current challenging financial and market environment have made it much more capital efficient for airlines to lease aircraft.”

Following these placements, BOC Aviation have only one new aircraft available for lease prior to mid-2011.

BOC Aviation is the leading Asia-based aircraft leasing company with a portfolio of 80 modern aircraft flying with airlines worldwide. In addition, the company has 76 aircraft on order for delivery through to 2013.  BOC Aviation has one of the youngest fleet in the industry with an average aircraft age of four years.

BOC Aviation is 100% owned by Bank of China, the sixth largest bank in the world*.

*based on market capitalization as at 30th September 2008.