BOC Aviation Limited (BOC Aviation), a Singapore-based aircraft lessor, announced its operational transactions as at 31st of December 2016.

In 2016, the company managed a portfolio of 284 owned and managed aircraft, with an average aircraft age of 3.2 years and an average remaining lease term of 7.3 years for owned aircraft fleet, weighted by net book value.

The company ordered 199 aircraft and took delivery of 67 aircraft, including 11 acquired by airline customers on delivery, in 2016. It signed 79 leases in the year ended 31 December 2016 and cooperated with 68 airlines in 32 countries.

In 2016, the leasing company sold 37 owned and one managed aircraft in 2016 and managed fleet comprised 38 aircraft

Commenting on the operating results for 2016, Robert Martin, Managing Director and Chief Executive Officer, said: “We finished 2016 with strong momentum, deploying all of our IPO proceeds in the fourth quarter of the year. We delivered five incremental wide bodies under a purchase and lease back with Air China that included taking delivery of our 250th aircraft from Airbus.

BOC Aviation announced the delivery of its 250th aircraft from Airbus. The aircraft is an A330-300 delivered to Air China, the fifth of the five wide-body aircraft leased to the Chinese airline under a purchase-and - leaseback arrangement first announced on the 3rd of October 2016.

In addition, we pipelined incremental business for 2017 with the six A350 aircraft acquired under a purchase and lease back agreement with Qatar Airways and 10 additional A320 family aircraft acquired for delivery onto our order book in 4Q2017.”