01/06/2021 | Press release | Distributed by Public on 01/06/2021 03:12
06 Jan 2021
BOC Aviation Limited (HKEX Code: 2588, 'BOC Aviation') announces its operational transactions for the fourth quarter and year ended 31 December 2020 and as at 31 December 2020.
Robert Martin, Managing Director and Chief Executive Officer, said, 'We are pleased to record a robust operational performance in 2020, executed in a challenging environment. We supported our airline customers and added high quality assets to our portfolio, including taking delivery of our 300th Boeing aircraft. During the year, we took delivery of 54 aircraft, 16 of which were delivered in December, and we sold 12 aircraft. We ended the year as the most valuable listed aircraft operating leasing company with a market capitalisation of US$6.0 billion.'
As at year end, BOC Aviation had available liquidity of over US$5 billion comprising cash and undrawn credit facilities. Steven Townend, Deputy Managing Director and Chief Financial Officer, commented, 'We continue to lead the industry with one of the best credit ratings, being A- from both S&P Global Ratings and Fitch Ratings, a young average fleet age of 3.5 years and a long average remaining lease term of 8.6 years.'
1. Includes all commitments to purchase aircraft including those where an airline customer has the right to acquire the relevant aircraft on delivery
Shareholders and potential investors are reminded that the above operational data are based on the Company's records and have not been audited or reviewed by the Company's auditors.
About BOC Aviation
BOC Aviation is a leading global aircraft operating leasing company with a fleet of 553 aircraft owned, managed and on order. Its owned and managed fleet was leased to 87 airlines worldwide in 39 countries and regions as at 31 December 2020. BOC Aviation is listed on the Hong Kong Stock Exchange (HKEx code: 2588) and has its headquarters in Singapore with offices in Dublin, London, New York and Tianjin. For more information, visit www.bocaviation.com.