BOC Aviation has announced its audited financial results for the full year ended December 31, 2017.
Total revenues and other income rose 17% year-on-year, to US$1,401m. Net profit after tax was US$587m, an increase of 40% over 2016. Total assets increased 19% year-on-year, to US$16bn at December 31, 2017.
BOC Aviation raised US$2.9bn in total debt, including a first ever US$1bn dual-tranche bond offering. The company maintained strong liquidity with US$305m in total cash and fixed deposits and US$3.7bn in undrawn committed credit facilities at December 31, 2017.
BOC Aviation reported portfolio utilisation of 99.8% and cash collection from airline customers of 99.9%. The Board recommended a final dividend for 2017 of US$0.192 per Share, pending approval at the AGM to be held on May 30, 2018.
