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A Member of Bank of China Group

Press Release

BOC Aviation Announces Memorandum of Partnership with Garuda Indonesia

16 Jun 2015

BOC Aviation is pleased to announce the signing of a memorandum of partnership with PT Garuda Indonesia for pre-delivery and sale-and-leaseback financing for the Indonesian flag carrier.

BOC Aviation is proud to support the fleet replacement and expansion plans of Garuda, and today signed the memorandum with President and Chief Executive Officer, Mr. M. Arif Wibowo, at the Paris Air Show held at Le Bourget in the presence of Indonesian Minister for State Owned Enterprises, Rini Soemarno.

“We recognise the growth potential for both business and tourist air travel for the archipelago of Indonesia, Southeast Asia’s largest economy,” said Robert Martin, Managing Director & Chief Executive Officer of BOC Aviation. “This memorandum demonstrates BOC Aviation’s commitment to both Indonesia and to Garuda.”

“Garuda is embarking on a strategy of growth and renewal to meet the demands of a new generation of travelers, both domestic and international,” said Mr. Arif. “We are pleased to have the support of BOC Aviation as Garuda’s partner in this exciting phase of expansion.”

BOC Aviation is a leading global aircraft leasing company with a portfolio of 251 owned and managed aircraft operated by 60 airlines worldwide in 30 countries, with commitments to acquire 196 aircraft, as of 31 March 2015. The Company has one of the youngest fleets in the industry with an average owned aircraft age of less than four years. BOC Aviation, owned by Bank of China, is based in Singapore with offices in Dublin, London, Seattle and Tianjin.

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For more information, please contact:
Claire LEOW
Tel: +65 9710 0790
claire.leow@bocaviation.com
www.bocaviation.com