BOC Aviation has reported financial results for the full year ended December 31, 2020. BOC Aviation’s core business continued to perform well in the most challenging year in aviation history.
Net profit after tax was US$510 million, total revenues and other income exceeded US$2 billion for the first time in 2020, up 4% year-on-year, and total assets rose to US$23.6 billion as at December 31, 2020, 19% higher than 2019. Operating cash flows net of interest paid increased 13% for the full year compared with 2019.
BOC Aviation increased purchase-and-lease-back activities, while reducing and deferring orders from manufacturers in the near term. The company delivered 54 aircraft to its airline customers, taking its owned and managed fleet to a new high of 398 aircraft.
