Lessor BOC Aviation Orders 30 Airbus A320-Family Aircraft

BOC Aviation, the Singapore-based aircraft leasing subsidiary of Bank of China, has ordered 30 Airbus A320-family aircraft.

Deliveries of the aircraft will take place over a three year period beginning in 2012. So far BOC Aviation has not announced the mix of models within its latest A320-family order but has said it will make an engine selection for the newly ordered aircraft in the near future.

“The current order is timely as the aviation industry has returned to profitability and airlines are looking to add capacity,” says Robert Martin, managing director and chief executive officer of BOC Aviation. “In the last three years, we successfully doubled the size of our fleet and have over 160 aircraft as of today.  In the years ahead, we will continue to focus on sustainable organic growth by adding reliable and efficient aircraft.  A320-family aircraft are a good fit as they have proven economics and meet both our investment targets and our customers’ operating goals.”

By mid-2010, aircraft of the Airbus A320 family – which includes the A318, the A319, the A320 and the A321 and VIP-jet versions of all the models except the A321 – had accumulated more than 50 million flights and carried in excess of 5 billion passengers

“The announcement from BOC Aviation is another vote of confidence in the long-term appeal of the A320 family. It works well for the financial community based on its wide operator base, proven operating economics and strong residual values,” says John Leahy, chief operating officer customers, Airbus. “With its latest commitment BOC Aviation will be well placed to build on its position as a top tier leasing company.”

BOC Aviation is the largest Asia-based aircraft leasing company. Including its latest purchase agreement, the company has now ordered 128 A320-family aircraft directly from Airbus, of which 80 have been delivered. The lessor also has five A330-200F freighters on firm order for delivery from 2012.

More than 6,700 A320-family aircraft have been sold and to date more than 4,400 have been delivered, to some 310 customers and operators worldwide.

On November 2, BOC Aviation announced an order for eight Boeing 777-300ERs, all to be leased to Thai Airways International.