BOC Aviation net profit up 57% to $163m in H1

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BOC Aviation recorded an unaudited net profit of $163 million for the first six months ended 30 June, a 57% increase compared with the same period last year.

The company's total assets increased to $9.9 billion after paying a dividend of $113 million for the first time to the Bank of China Group. Cash stood at $680 million for the period.

As of June, BOC Aviation has a fleet of 223 aircraft flying with more than 50 airlines worldwide, comprising 198 owned and 25 managed aircraft, as well as 16 aircraft on committed purchase and leaseback with airlines.

During the first six months of the year, the firm took delivery of 30 new aircraft, including 10 on purchase and leaseback agreements - a record for a six-month period.

This year, the company has leased and delivered four new Airbus A320s to Vueling Airlines, three Boeing 777-300ERs to Thai Airways and two new Embraer E190s to Jetairfly, an airline subsidiary of TUI Travel.