BOC Aviation orders 30 A320 Family aircraft

Lessor confident of investment value

3 November 2010 Press Release

BOC Aviation, the Singapore-based aircraft leasing subsidiary of Bank of China, has placed a new firm order with Airbus for the purchase of 30 A320 Family aircraft. Deliveries of the aircraft will take place over a three year period beginning in 2012. BOC Aviation will make an engine selection for the 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," said 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.”

“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," said 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 the 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.

The A320 Family (A318, A319, A320 and A321) is recognised as the benchmark in the single-aisle aircraft category. With over 6,700 aircraft sold, and more than 4,400 delivered to some 310 customers and operators worldwide, the A320 Family is also the world’s best-selling single-aisle product line.