March 29, 2018 / 1:28 AM / 24 days ago

BOC Aviation says to buy six Boeing aircraft worth $1.7 billion

HONG KONG (Reuters) - BOC Aviation Ltd (2588.HK) said on Thursday it would buy six new Boeing 787-9 aircraft from Boeing (BA.N) worth a combined $1.7 billion at list prices.

A BoC Aviation signage at their office in Singapore May 16, 2016. REUTERS/Edgar Su/File Photo

Asia’s second-biggest aircraft lessor, which had 491 aircraft as of the end of last year, said it expected to take delivery of the aircraft in 2018 and 2019. The deal will be funded through cash on hand, loans and borrowings.

The Singapore-based company, which is majority-owned by Bank of China (601988.SS), this month posted a better-than-expected 40 percent rise in full-year net profit on higher revenue and U.S. tax cuts.

    Reporting by Donny Kwok; Editing by Edwina Gibbs

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