BOC Aviation reported a net profit of $254 million for the first six months of 2021, down from $323 million in the first half of last year.

Pre-tax profit was $288 million, down from $354 million in the six months ended 30 June 2020.

BOC 737 Max

The Singapore-based lessor posted revenues and other income of $1.11 billion, up slightly from $1.04 billion in the corresponding period in 2020.

Costs and expenses rose to $820 million for the first half, up from $681 million last year.

BOC Aviation ended June with a fleet of 414 owned and managed aircraft, as well as 122 on order. The most common aircraft in its fleet were Airbus A320ceo-family jets, of which it had 108 owned and 15 managed.

The owned fleet of 377 aircraft had an average age of 3.7 years and an average remaining lease term of 8.1 years, each weighted by net book value.

The lessor also disclosed it had total deliveries of 34 aircraft, including six acquired by airline customers on delivery, in the first half of 2021.

During that same period, it signed 26 lease commitments, with all aircraft scheduled for delivery from its orderbook before 2023 placed with airline customers.

It also sold nine aircraft from the owned fleet and three from the managed fleet.