BOC Aviation buys 120 single-aisle jets from Airbus, Boeing

Aircraft Lessor BOC Aviation Makes Single-Largest Purchase to Expand Fleet

BOC Aviation Acquires 120 Single-Aisle Jets

Aircraft lessor BOC Aviation has announced its largest aircraft purchase to date, with plans to acquire 120 single-aisle jets from Airbus and Boeing. The purchase is part of the company’s efforts to expand its fleet to 1,000 aircraft by 2030.

Fleet Expansion and Supply Chain Challenges

The Singapore-headquartered, Hong Kong-listed company, majority-owned by Bank of China, currently owns or manages 709 aircraft, with 232 on order before this latest purchase. The company’s Chief Executive, Steven Townend, is driving the expansion efforts.

The demand for aircraft lessors has increased due to supply chain challenges faced by Airbus and Boeing, which have slowed down new jet deliveries. Engine troubles have been grounding large numbers of planes, forcing airlines to keep older planes for longer or seek costly deals with lessors to maintain services.

Delivery Schedule

BOC Aviation expects delivery of its Boeing jets by 2031 and 2032 for Airbus. The deal adds to a strong run of orders for Boeing’s cash-cow 737 jet in recent months.

Recent Orders for Boeing’s 737 Jet

The company has received several significant orders in recent months, including:

• A deal with Malaysia Airlines for up to 60 planes
• A top-up order from Japan Airlines for 17 planes
• An order from ANA for 12 planes

Conclusion

BOC Aviation’s latest purchase underscores its commitment to expanding its fleet and meeting the growing demand for aircraft lessors. The company’s efforts to diversify its portfolio and cater to the needs of airlines in the face of supply chain challenges are likely to pay off in the long run.

Frequently Asked Questions

Q: What is BOC Aviation’s plan for the new aircraft?
A: The company plans to add the new aircraft to its existing fleet, with delivery scheduled to begin in 2031 and 2032.

Q: Why is there a high demand for aircraft lessors?
A: The high demand is due to supply chain challenges faced by Airbus and Boeing, which have slowed down new jet deliveries.

Q: What is BOC Aviation’s current fleet size?
A: As of the end of December, BOC Aviation owned or managed 709 aircraft, with 232 on order before this latest purchase.

Q: Who is BOC Aviation’s majority owner?
A: Bank of China is BOC Aviation’s majority owner.