BOC Aviation reports first half 2016 performance

BOC Aviation has announced its unaudited results for the six months ended 30 June 2016. Robert Martin, Managing Director and Chief Executive Officer, said: “We completed a very successful first half of 2016, recording net profit after tax of US$212m, a 24% increase compared with the six months ended 30 June 2015. We also positioned our business for future growth through our successful listing on the Stock Exchange of Hong Kong where we raised net proceeds of US$550m in primary equity capital.” Total revenues and other income rose 8.2% to US$579m, core lease rental contribution1 rose 8% to US$220m. Total assets increased 9.0% to US$13.6bn at 30 June 2016 from 31 December 2015. BOC Aviation maintained strong liquidity with US$1.7bn in total cash and fixed deposits, and more than US$2.7bn in undrawn committed revolving credit facilities as at 30 June 2016.