BOC Aviation orders five new Airbus A321 aircraft, for leasing to Asian airline

BOC Aviation Ltd on Wednesday announced that it has ordered five new Airbus A321-200 aircraft, all of which have been leased to an Asian airline.

While the group did not disclose the actual purchase price of the Airbus aircraft - stating that it is "commercially sensitive information because it reflects significant price adjustments" granted by Airbus - it said the list price is approximately US$574.5 million.

BOC Aviation will pay for the aircraft in cash in five instalments, "with the first four instalments to be paid prior to delivery of each aircraft and the balance, being a substantial portion of the consideration, to be paid upon delivery of the aircraft".

The aircraft are scheduled for delivery in 2017. Following the latest purchase agreement, BOC Aviation's cumulative Airbus orders have reached a total of 311 aircraft.

Said Robert Martin, BOC Aviation's managing director and chief executive officer: "We have increased our order for the A321 in response to the market trend and appetite for larger capacity single-aisle aircraft. Our incremental order reflects the continued popularity, confidence and reliability of the A320 family among our customers."