BOC Aviation has released its unaudited financial outcomes for the six-month period concluding on June 30, 2023.
BOC Aviation posted a net profit after tax (NPAT) of US$262 million during the initial half of 2023. This success was propelled by an upsurge in lease rental earnings, coinciding with the upward trajectory of global passenger travel. Across the half-year span ending in June 2023, the company has bolstered its total assets to nearly US$23 billion. Furthermore, BOC’s commitment to acquiring 23 aircraft has elevated its total committed capital expenditure for the first half of 2023 to US$11 billion.
The Board of Directors has granted approval for an interim dividend amounting to US$0.1131 per share. This distribution corresponds to 30% of the company’s NPAT for the opening half of 2023, showcasing the Board’s sustained confidence in the company’s business prospects.
Steven Townend, Deputy Managing Director and Chief Financial Officer of BOC Aviation, remarked: “In the initial half of 2023, BOC Aviation achieved an NPAT of US$262 million, signifying a notable 27% enhancement compared to the core net profit after tax of US$206 million recorded during the corresponding period last year. The robust demand for our aircraft is vividly mirrored in the expansion across our balance sheet, revenue streams, and cash flow. Our robust supply pipeline positions us favourably to leverage the growing demand from airline customers for our fleet of youthful, fuel-efficient aircraft.” (£1.00 = US$1.27 at time of publication).