BOC Aviation delivers first of five new aircraft to Air China under purchase and leaseback arrangement

BOC Aviation has delivered a Boeing 777-300ER aircraft which is the first of five new aircraft to be leased to Air China under a purchase-and-leaseback arrangement. The remaining two Boeing 777-300ER and two Airbus A330-300 aircraft are scheduled for delivery from the manufacturers by the end of this year. The transaction represents incremental capital expenditure in 2016 and will utilize all of the equity raised in the initial public offering on June 1st, in line with the company’s focus on disciplined investing to grow the owned fleet.