BOC Aviation achieves net profit of $107 million

BOC Aviation recorded a net profit after tax of $107 million for 2008, 32% higher than the $81 million earned in the previous year. This is the first year that BOC Aviation has achieved a net profit after tax of more than $100 million. BOC Aviation recorded higher lease rentals from a bigger portfolio as forward placements of aircraft on long-term leases in previous years generated a steady stream of rental revenue. The Company took delivery of a total of 26 aircraft during the year, of which 13 were delivered in the last quarter. Continued financial discipline to keep operating costs under control and lower prevailing interest rates also contributed to the improved profit figure.