Leasing firm BOC Aviation reports record number of transactions in 2023 


Global aircraft leasing firm BOC Aviation (BOC) has announced that it concluded a record number of transactions in 2023. The company, which also happened to celebrate its 30th anniversary during the year, signed 142 new lease commitments in total and ordered 95 new aircraft.  

BOC is a global aircraft operating leasing company with a fleet of 684 aircraft either owned, managed, or on order. Its owned and managed fleet was leased to 91 airlines in 45 countries and regions worldwide as of December 31, 2023. BOC has its headquarters in Singapore with satellite offices in Dublin, London, New York, and Tianjin. 

In addition to the record amount of new lease agreements signed for a single year in the company’s history, the firm took delivery of 65 new aircraft on behalf of customers – the most accepted by the company since 2017. 

BOC also reported that its aircraft fleet utilization rate increased to 99%, up from 96% a year earlier, with fewer aircraft in long-term storage.  

“Looking ahead, with a strong aircraft portfolio and order book, we are confident in meeting our airline customers’ needs and maintaining our position as a top five global aircraft operating lessor,” said Stephen Townend, BOC’s Chief Executive.  

Analyzing the numbers further, the average aircraft age of BOC’s fleet is 4.6 years with an average remaining lease term of 8.1 years for the 426-owned aircraft fleet. The firm also manages 34 aircraft on behalf of other owners and has a total outstanding order book of 224 aircraft. 


The company executed a total of 128 transactions in the fourth quarter (Q4) of 2023 and a total of 348 throughout 2023. These included a commitment in Q4 2023 to purchase 31 aircraft and a total of 95 in 2023. 

BOC also took delivery of 39 new aircraft (excluding one acquired by an airline customer on delivery) in Q4 2023, and a total of 65 (excluding two aircraft acquired by an airline customer on delivery) in 2023. The onward sale of 15 owned aircraft in Q4 2023 brought the total number of owned aircraft sold during the year to 20. The firm signed 35 lease commitments in Q4 2023 and a total of 142 for 2023. 

As of December 31, 2023, BOC had a total of 10 different passenger aircraft types in its fleet portfolio, plus a small number of dedicated freighters.  

The Airbus A320neo family is the most common type in the fleet, with 122 examples (in addition to 83 A320ceo family aircraft). The company also has significant numbers of Boeing 737 NGs (61), 737 Max family (60), and the Airbus A220 (18). 

On the widebody front, the company has 14 Airbus A330s (ceo/neo), nine A350s, 27 Boeing 777-300ERs, and 27 Boeing 787s. 

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