BOC Aviation reported a 100% aircraft utilisation rate during the first quarter of the year - marking the first time in five years the company has achieved full fleet deployment.
During the first quarter, the lessor executed 158 transactions, including commitments to purchase 125 aircraft. This also included the delivery of 11 planes, the sale of four owned aircraft and one engine, along with 16 lease commitments.
“Building a solid pipeline of aircraft deliveries underpins our capital expenditure targets. In the first quarter of the year, providing a strong foundation for growth, said Steven Townend, chief executive officer and managing director of BOC Aviation.
From a fleet of 442 aircraft, the lessor said the aircraft had an average aircraft age of 5.1 years and an average remaining lease term of 7.9 years.
During the period, BOC raised $500 million of three-year bonds at a coupon of 4.750% per annum.