BOC Aviation has announced its unaudited results for the six months ending June 30, 2024. The company achieved a record net profit after tax (NPAT) of US$460 million, surpassing the previous first-half record of US$323 million set in 2020. This significant growth is attributed to the continued expansion of its core business and successful aircraft recoveries.
The company's balance sheet remained strong, with assets exceeding US$24 billion and total equity surpassing US$6 billion for the first time. BOC Aviation committed to acquiring 14 additional aircraft, ending the period with a total committed capital expenditure of US$12 billion and an order book of 219 aircraft.
As of June 30, 2024, BOC Aviation's fleet consisted of 680 aircraft, either owned, managed, or on order. The average age of the 429 owned aircraft was 4.9 years, with an average remaining lease term of 7.9 years. The company served 93 airlines across 47 countries and regions and executed 113 transactions in the first half of 2024, including commitments to purchase 14 aircraft, delivery of 18 aircraft, sale of 15 aircraft and 55 lease commitments. All aircraft in the order book are scheduled for delivery by December 2025, with placement already secured with airline customers. The owned portfolio achieved an aircraft utilisation rate of 99% for the period.
