Boeing (BA) and BOC Aviation (Singapore), announced an order for 22 737 airplanes, building on the leasing company’s existing order book to fulfill customer demand.
The order, consisting of 11 Next-Generation 737-800s and 11 737 MAX 8 airplanes, will be posted to Boeing’s Orders and Deliveries website once finalized.
In addition to today’s announcement, BOC Aviation has ordered 167 737 airplanes, including 50 737 MAXs and 16 777s.
BOC Aviation is a leading global aircraft leasing company with a portfolio of 253 owned and managed aircraft operated by 59 airlines worldwide in 29 countries, with commitments to acquire 203 aircraft, as of 30 September 2015. BOC Aviation, owned by Bank of China, is based in Singapore with offices in Dublin, London, Seattle and Tianjin.
Boeing (Chicago, Seattle and Charleston) and BOC Aviation have finalized an order for two additional 737-800s, valued at $186 million at current list prices.
The order is a part of the Singapore-based leasing company’s effort to grow its portfolio of fuel-efficient airplanes.
BOC Aviation, owned by Bank of China, is the leading global aircraft leasing company based in Asia, owning one of the youngest fleets in the industry with an average aircraft age of less than four years. These two aircraft add to BOC Aviation’s order of 82 Boeing aircraft in August, which comprised 80 737s, of which 50 are 737 MAXs, as well as two 777-300 ERs (Extended Range).
Boeing (Chicago and Seattle) announced today an order by BOC Aviation for 50 737 MAX 8s, 30 Next-Generation 737-800s and two 777-300ERs (Extended Range). The order, valued at $8.8 billion at list prices, is the largest in BOC Aviation’s 20-year history and part of the Singapore-based leasing company’s effort to grow its portfolio of fuel-efficient airplanes.
BOC Aviation (Singapore), the aircraft leasing subsidiary of Bank of China, has announced an order for an additional 43 Airbus A320 Family aircraft, comprising seven A320neo Family aircraft and 36 A320ceo aircraft across A320 and A321 variants, at the Farnborough International Airshow 2014.
Including this latest purchase agreement, BOC Aviation’s cumulative orders for new Airbus aircraft have reached 255, as of June 30th 2014, 142 of these have already been delivered, and another 55 committed to lease.
As of June 30, 2014, BOC Aviation’s fleet of 251 aircraft includes 109 Airbus aircraft operated by 27 airlines. There are 98 A320 Family aircraft in the fleet.
The unnamed Tata Group – Singapore Airlines (Singapore) joint airline venture in India has selected the Airbus A320 to power the new full-service airline. According to this report by Reuters, the JV will be leasing 20 Airbus A320s from BOC Aviation (Singapore). The Tata-Singapore JV airline is expected to launch operations in the second half of this year.
The Tata Group is also partnering with AirAsia to launch an unnamed low-fare joint venture airline in India.
The Indian market is exploding despite the recent failure of Kingfisher Airlines. Jet Airways is negotiating a large Boeing 737 order with Boeing.
The Tata Group is an Indian multinational conglomerate company headquartered in Mumbai, Maharashtra, India according to Wikipedia The group encompasses seven business sectors: communications and information technology, engineering, materials, services, energy, consumer products and chemicals. Tata Group was founded in 1868 by Jamsetji Tata as a trading company. It has operations in more than 80 countries across six continents. Tata Group has over 100 operating companies with each of them operating independently.
Tata Group remains a family-owned business, as the descendants of the founder (from the Tata family) own a majority stake in the company. The current chairman of the Tata group is Cyrus Pallonji Mistry, who took over from Ratan Tata in 2012.
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BOC Aviation (Singapore, the aircraft leasing subsidiary of Bank of China, has announced during the 15th Aviation Expo China 2013 in Beijing an additional firm order for the purchase of 25 A320 Family aircraft comprising 13 A320ceo and 12 A320neo family aircraft. The order comprises A320 and A321 variants. BOC Aviation will make its engine selection at a later date.
The order from BOC Aviation for 25 more A320 Family aircraft comes less than a year after their previous order for 50 A320 Family aircraft, confirming the fast pace at which the market requires Airbus’ fuel efficient single-aisle planes.
Including this latest purchase agreement, BOC Aviation’s cumulative orders for new Airbus aircraft reach a total of 212 (206 A320 Family and six A330 Family aircraft).
BOC Aviation (Singapore), the aircraft leasing subsidiary of Bank of China, has placed a new firm order, signed in December 2012, for the purchase of 50 A320 Family aircraft including 25 NEOs. The order comprises A320 and A321 variants of both engine options. BOC Aviation will make its engine selection for the aircraft at a later date.
BOC Aviation last placed an order for A320ceo Family aircraft in 2010. This order for A320neo Family aircraft will be its first for the new engine option. As an investor in aircraft, the Company seeks fuel-efficient aircraft that have a wide operator base and this order will further contribute to its growth.