POST Online Media Lite Edition


Chinese BOC Aviation to buy 50 A320 jets for $5 billion

Staff writer |
BOC Aviation, a 20 years old subsidiary of Bank of China, ordered 50 A320 Family aircraft, including 25 NEOs. Planes will be delivered from 2014 to 2019 and the transaction is valued at $5 billion.

Article continues below

The order comprised A320 and A321 variants of both engine options, CEOs and NEOs. BOC Aviation last placed an order for the A320ceo Family aircraft two years ago. This order for the A320neo Family aircraft will be its first for the new engine option.

“Airbus' popular A320 and A321 aircraft with the current engine option are outstanding aircraft for airlines focusing on operational efficiency who want to offer their passengers a superior short to medium haul travel experience,” said Robert Martin, BOC Aviation's Managing Director and Chief Executive Officer.

BOC Aviation is the leading Asia-based aircraft leasing company with a portfolio of 203 owned and managed aircraft operated by airlines worldwide and another 100 aircraft on firm order. The company has one of the youngest fleets in the industry with an average owned aircraft age of less than four years.

"The announcement from BOC Aviation is another vote of confidence in the long-term appeal of our popular A320 Family. It works well for the financial community thanks to its wide operator base, its proven excellent operating economics as well as strong residual values," said John Leahy, Chief Operating Officer Customers, Airbus.

Including this latest purchase agreement, BOC Aviation's cumulative orders for new Airbus aircraft reach a total of 187 (181 A320 Family and six A330 Family aircraft), of which 131 have already been placed with airlines. BOC Aviation has also been growing its Airbus fleet through purchase and leaseback transactions with airlines. The company has placed Airbus aircraft with more than 40 airlines worldwide.

What to read next

Colorful Yunnan signs firm order for two Embraer Phenom 300s
Embraer to sell aircraft to Tianjin Airlines for $1.1 billion
Embraer delivers 33 commercial and 45 executive jets in Q4 2015