BOC Aviation announced that it has entered into a purchase-and-leaseback arrangement with Air China for five aircraft, comprising three Boeing 777-300ER aircraft and two Airbus A330-300 aircraft, all scheduled for delivery new from the manufacturer in the fourth quarter of 2016.
“We are pleased to support Air China in its fleet growth and expansion plans in this transaction, which adds popular, in-demand aircraft on long-term leases to our portfolio,” said Robert Martin, Managing Director and Chief Executive Officer of BOC Aviation.
“This transaction also represents incremental capital expenditure in 2016, and we continue to focus on disciplined investing to grow our fleet in line with our current strategy.”
Air China Limited, a joint stock limited company incorporated in the People’s Republic of China with limited liability, has H shares listed on the Hong Kong Stock Exchange as its primary listing venue and on the Official List of the UK Listing Authority as its secondary listing venue, and also has A shares listed on the Shanghai Stock Exchange. Its principal business is the operation of scheduled airline services.
BOC Aviation is global aircraft operating leasing company with a fleet of 483 aircraft owned, managed or on order. Its owned and managed fleet was leased to 64 airlines worldwide in 31 countries as at 30 June 2016. BOC Aviation has headquarters in Singapore with offices in Dublin, London, Seattle and Tianjin.