BOC Aviation, one of the world's largest aircraft leasing companies, will purchase 120 single-aisle planes from Airbus and Boeing to expand its fleet to 1,000 aircraft by the end of the decade, reports Reuters.
The Singapore-based lessor, majority-owned by Bank of China, has ordered 70 A320neo family aircraft from Airbus and 50 737 MAX 8 jets from Boeing.
The deal highlights the rising demand for narrowbody aircraft, driven by increasing air travel, particularly among low-cost carriers that favour fuel-efficient, next-generation single-aisle jets.
While the financial details were not disclosed, aviation data provider Cirium Ascend estimates the Airbus order to be worth US$3.78 billion and the Boeing order to be worth around $2.72 billion based on projected delivery prices.
According to company reports, as of December, about 85 per cent of boc Aviation's owned, managed, and on-order fleet consisted of narrowbody planes.
Despite strong demand for new aircraft, airlines face delivery delays due to labor strikes, regulatory scrutiny, and supply chain disruptions.
These challenges have boosted demand for leased aircraft, benefiting lessors like BOC Aviation.
SeaNews Turkey
The Singapore-based lessor, majority-owned by Bank of China, has ordered 70 A320neo family aircraft from Airbus and 50 737 MAX 8 jets from Boeing.
The deal highlights the rising demand for narrowbody aircraft, driven by increasing air travel, particularly among low-cost carriers that favour fuel-efficient, next-generation single-aisle jets.
While the financial details were not disclosed, aviation data provider Cirium Ascend estimates the Airbus order to be worth US$3.78 billion and the Boeing order to be worth around $2.72 billion based on projected delivery prices.
According to company reports, as of December, about 85 per cent of boc Aviation's owned, managed, and on-order fleet consisted of narrowbody planes.
Despite strong demand for new aircraft, airlines face delivery delays due to labor strikes, regulatory scrutiny, and supply chain disruptions.
These challenges have boosted demand for leased aircraft, benefiting lessors like BOC Aviation.
SeaNews Turkey
