Airlines News

Fleet expansion boosts BOC Aviation first half profit

BOC Aviation increased its profit before tax for the first half of the year by 7% to $352 million owing to robust fleet growth.

“Revenue rose 13% to $930 million from $825 million, and our fleet net book value grew 6% to $15.9 billion from 31 December 2018, as we continued to take delivery of modern, fuel efficient aircraft,” says chief executive Robert Martin.

Nearly 90% of its revenue came from lease rental income, which grew by 11% as the lessor’s owned portfolio grew from 294 to 314 aircraft. It also had 23 managed aircraft.

Meanwhile, costs and expenses were up 17% to…

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