BOC Aviation posts record profit for 2013

BOC Aviation reported a record net profit of US$277 million for the year ended Dec 31, 2013, up 23 per cent year-on-year, marking 20 years of profitability.

The aircraft leasing firm, which is wholly owned by the Bank of China, said that its total assets at the end of last year stood at US$10.2 billion, versus US$9.1 billion a year earlier.

BOC Aviation ended the year with US$501 million in unencumbered cash and US$2.3 billion in unutilised committed credit facilities.