BOC Aviation’s recent sale-and-leaseback spree helped it record more signed lease commitments in the second quarter than in the same period last year, though aircraft sales were down.

The Singapore-based lessor signed leases for 38 aircraft in the three months ended 30 June, compared with 32 in 2019’s second quarter. The company has been notably active in the sale-and-leaseback market in the first half of this year, agreeing to purchase and lease back at least 66 aircraft from carriers in the USA, Europe and Hong Kong.

Thirty-eight of those aircraft were announced in the second quarter of 2020: 16 737 Max jets and six 787-9s with United, six A321neos with Wizz Air, and 10 Max 8s with Southwest Airlines. The rest had been announced in the first quarter.

AerCap, which Cirium has ranked as the number-one lessor by estimated portfolio size, said on 7 July that it had signed lease agreements for only 10 aircraft in the second quarter, down from 48 in the same period last year.

BOC Aviation sold two owned aircraft last quarter. In 2019’s second quarter, it had sold eight owned and two managed aircraft.

The lessor took delivery of 13 aircraft in 2020’s second quarter, compared with 14 a year ago.

As at 30 June 2020, BOC Aviation had an owned and managed fleet of 374 aircraft, plus an orderbook of 197 aircraft. The owned and managed aircraft, which had an average aircraft age of 3.5 years and an average remaining lease term of 8.5 years, were on lease to 91 airlines.