BOC Aviation has signed an agreement to purchase and lease-back two Airbus A350-1000 aircraft to new customer Philippine Airlines (PAL) under long-term operating leases. The aircraft, powered by Rolls-Royce Trent XWB engines, represent BOC Aviation’s first deliveries of the A350-1000 type. The initial aircraft is scheduled to join the PAL fleet in December 2025, marking a significant addition to the airline’s long-haul capabilities.
Steven Townend, Chief Executive Officer and Managing Director of BOC Aviation, welcomed the partnership, noting that the transaction highlights the company’s commitment to supporting the aviation industry with the latest-technology aircraft. He added that, as the largest aircraft operating lessor headquartered in Asia, BOC Aviation’s strong financial position and substantial orderbook enable it to provide capital and capacity to airlines seeking to grow and modernise their fleets.
“The addition of the Airbus A350-1000 to our fleet marks a pivotal step in Philippine Airlines’ ongoing fleet modernisation programme,” said Richard Nuttall, President of PAL. “This investment not only aligns with our commitment to operating one of the youngest and most fuel-efficient fleets in the region, but also ensures we can deliver world-class comfort, reliability, and efficiency to our passengers. Our partnership with BOC Aviation reinforces our strategy to enhance our global competitiveness while supporting the sustainable growth of our network.”
PAL is the national flag carrier of the Philippines and the country’s only full-service network airline. As Asia’s first commercial carrier, PAL operates a fleet of Boeing, Airbus and De Havilland aircraft from hubs in Manila, Cebu, Clark and Davao, offering scheduled nonstop services to 31 domestic destinations and 39 international points across Asia, North America, Australia and the Middle East.
