BOC Aviation reported the collection rate to be 103% for the quarter ending March 2023, demonstrating the improving financial health of its airline customers. The company released its operational transactions for the quarter ended 31 March 2023.
Robert Martin, Managing Director and Chief Executive Officer, said: “The first quarter of 2023 was a successful period for us. At the end of the quarter, we had placed all new aircraft scheduled for delivery in 2023 and had lease commitments signed for all but one aircraft with leases expiring this year, which reflects the strong demand amongst the world’s airlines for modern technology aircraft.”
At the end of March 2023, BOC Aviation reported having a total fleet of 635 aircraft owned, managed and on order with an average age of .6 years and an average remaining lease term of 8.0 years for the 393 owned aircraft fleet, both weighted by net book value.
BOC Aviation’s owned aircraft utilization improved to 99% with two single aisle and two twin aisle aircraft off lease and all but one aircraft committed for lease.
The Company reported a strong order book of 207 aircraft and executed a total of 23 transactions including commitments to purchase three aircraft, delivery of two new aircraft, sale of one owned aircraft and 13 lease commitments.
The company has a managed fleet of 35 aircraft, all on lease to 86 airline customers in 39 countries globally.