BOC Aviation fourth quarter and year end report

BOC Aviation Limited has announced its operational transactions for the fourth quarter of 2021 and year ending 31 December 2021.

Robert Martin, Managing Director and Chief Executive Officer, said: “We are pleased to achieve a robust performance in 2021 in a challenging operating environment. During the year, we took delivery of 52 aircraft and sold 26 owned and managed aircraft, ending the year with a total fleet of 521 aircraft. Our fleet remains one of the industry’s most attractive, with a young average age of 3.9 years and long average remaining lease term of 8.3 years. Looking ahead, our portfolio positions us well to serve the growth and replacement requirements of our airline customers.”

Transactions Summary

A total fleet of 521 aircraft owned, managed and on order
An average aircraft age of 3.9 years and an average remaining lease term of 8.3 years for the 380 owned aircraft fleet, both weighted by net book value
Order book of 104 aircraft
Executed a total of 42 transactions in the fourth quarter of 2021 and 160 in 2021:
Took delivery of nine aircraft in the fourth quarter of 2021, and 52 in total in 2021 (including seven acquired by airline customers on delivery)
Sold 12 owned aircraft in the fourth quarter of 2021, which brought the total number of owned and managed aircraft sold during the year to 26
Signed 21 lease commitments in the fourth quarter of 2021, bringing the total for 2021 to 74
Customer base of 86 airlines in 38 countries and regions in the owned and managed portfolios
Managed fleet comprised 37 aircraft, with two single-aisle aircraft off lease. A signed lease is in place for one of the single-aisle aircraft, scheduled for delivery in the first quarter of 2022
Owned aircraft utilisation at 98.5%, with five single aisle and five twin aisle aircraft off lease. Signed leases are in place for all five twin aisle aircraft, scheduled for delivery in the first quarter of 2022