BRIEF: BOC Aviation signs 20 lease commitments in first quarter
Aircraft leasing company BOC Aviation Ltd. (2588.HK) said on Monday it delivered 10 aircraft and signed 20 lease commitments in the first quarter, including agreements involving 19 new aircraft from its order book.
The company added that it maintained both its aircraft utilization rate and collection rate at 100%. Its current fleet totals 461 aircraft with an average age of 5.1 years and an average remaining lease term of 7.7 years.
Concurrently, the company gained access to $2.5 billion in cash and credit, including $500 million from a seven-year bond and $2 billion from a loan facility with 19 banks.
Shares of BOC Aviation opened flat at HK$82.25 on Tuesday. The stock is down 11% from its 52-week high.
By Lau Chi Hang
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