BOC Aviation has reported its unaudited results for the six months ended 30 June 2018.
Robert Martin, Managing Director and Chief Executive Officer, said: “BOC Aviation delivered an excellent result in the first half of 2018, earning a net profit after tax of US$297 million, which was up 24% compared with the same period last year. Revenue rose 23% from US$670 million to US$825 million, reflecting 19% growth in total assets to US$17.1 billion as at 30 June 2018, as compared with 30 June 2017. Net book value of our fleet grew to US$14.3 billion as we continued our disciplined aircraft investment programme.”
Financial highlights for the six months ended 30 June 2018 are: Total revenues and other income rose 23% to US$825 million, Net profit after tax was US$297 million, an increase of 24% over the first half of 2017. Earnings per share of US$0.43 Total assets increased 7% to US$17.1 billion as at 30 June 2018 from 31 December 2017. Strong liquidity with US$411 million in total cash and fixed deposits, and US$3.5 billion in undrawn committed credit facilities as at 30 June 2018. Raised more than US$1.1 billion in new financing. Portfolio utilisation and cash collection from airline customers of 100% and 99.5%, respectively.
