BOC Aviation posts record US$343m profit for FY2015

BOC Aviation on Tuesday reported a record net profit after tax of US$343 million for its fiscal year ended Dec 31, 2015, an 11 per cent increase over 2014.

Total revenues and other income rose 10 per cent to US$1.09 billion, while total assets grew 9.4 per cent to US$12.5 billion at year-end.

The owned and managed fleet grew to 270 aircraft, and together with 241 aircraft purchase commitments at the year-end, its total fleet was 511 aircraft.

The group also maintained strong liquidity with US$507 million in total cash, bank balances and fixed deposits, and more than US$2.7 billion in committed revolving credit facilities.

The group is a global aircraft operating leasing company owned by Bank of China. It is based in Singapore with offices in Dublin, London, Seattle and Tianjin.