SINGAPORE, March 27 Hong Kong-listed aircraft
lessor BOC Aviation Ltd reported a 22 percent jump to
record full-year net profit on Monday, supported by growth in
global air travel, and signalled an upbeat industry outlook.
As airlines increasingly opt to lease planes, Asian lessors
are investing billions of dollars to expand, having won backing
from cash-rich banks and financial investors. Last year, BOC
Aviation raised $1.1 billion in the biggest IPO by an aircraft
BOC Aviation's net profit rose to $418 million in the year
ended Dec. 31 on a 9 percent increase in total revenue and other
income to $1.19 billion.
"The economies that are commodity-based are beginning to
pick up. Growth in domestic markets - Brazil, Russia, India and
China - particularly towards the end of the year was good," the
company's CEO Robert Martin told Reuters.
The Singapore-headquartered firm, which has a portfolio of
284 aircraft, expects to take record deliveries of over 75
aircraft this year.
BOC Aviation said the market for aircraft funding remains
strong, with the company having over $4 billion in committed
Global demand for air travel in January rose 9.6 percent,
the sharpest increase in more than five years, boosted by
surging demand in domestic passenger markets in India and China.
(Reporting by Anshuman Daga; Editing by Edwina Gibbs)