BOC Aviation reported a profit before tax of US$775 million and a net profit after tax of US$702 million, both increasing by 13% year-on-year in its 2019 results, which were published today.
Robert Martin, managing director and chief executive officer at BOC Aviation said in a statement accompanying the results that the firm has delivered a return on equity of 16.0%, exceeding its average return on equity of 15.1% since 2007 on total earnings of US$1,976 million.
In January 2020 BOC announced an order for 20 Airbus A320NEO aircraft, and in March 2020 it committed to acquire 22 new Boeing 787-8 aircraft for lease to American Airlines, making this the largest lease commitment in the firm’s history.
As at 11 March 2020, BOC had a total fleet of 561 aircraft comprising 316 owned, 40 managed and 205 aircraft on order.
“We achieved a strong result in 2019, ending the year with a solid balance sheet and as of today, we have more than US$5 billion in available liquidity, positioning the Company well to meet new challenges and pursue new opportunities in 2020,” said Martin.
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