BOC Aviation MD and CEO Robert Martin said the company ended the year “in its best condition ever, with liquidity, balance sheet and earnings outlook deliberately structured for expansion.”
Revenue and other income for the year was up 17% at $1.4 billion, while total assets rose 19% to $16 billion.
During 2017, BOC Aviation signed 103 leases and took delivery of 74 aircraft, ending the year with 173 aircraft on order. The lessor also sold 30 owned aircraft, as well as two under management.
As of Dec. 31, BOC Aviation had a portfolio of 318 owned and managed aircraft, with an average remaining lease term of 8.2 years for the owned fleet. Portfolio utilization stood at 99.8%.
The company will take delivery of 53 new aircraft in 2018. Lease commitments have already been secured for all these aircraft.
BOC Aviation has aircraft leased to 80 airlines in 33 countries.