BOC Aviation has signed a purchase and leaseback agreement for three Boeing 737-8 aircraft with Akasa Air on long-term operating leases.
All three aircraft will be powered by CFM LEAP-1B engines, with the first delivery scheduled for January 2026.
“We are pleased to welcome Akasa as a new customer for BOC Aviation at this exciting stage of their development,” said Paul Kent, chief commercial officer at BOC Aviation.
“The Boeing 737-8 is one of the world’s most popular single-aisle jets, and this transaction leverages our ability to provide capital to support our customers’ fleet expansion.”
During this year’s third quarter, as covered by Airline Economics, BOC Aviation made a total of 34 transactions, including delivery of 11 aircraft, sales of 10 owned aircraft, and commitments to purchase three aircraft.
At the end of the third quarter, the company’s total portfolio stood at 812 aircraft and engines owned, managed, or on order. Utilisation of its owned aircraft was 100%.
The company’s average aircraft age was 5.0 years, and its average remaining lease term was 7.8 years across the 442 aircraft in its owned fleet.
Its order book consisted of 343 aircraft, and its customer base included 88 airlines in 46 countries and territories across its owned and managed portfolios.
BOC Aviation is a Hong Kong-listed subsidiary of Bank of China. It is headquartered in Singapore and has offices in Dublin, London, New York, and Tianjin.