BOC Aviation buys two Boeing aircraft for $758 mln

31 March 2017

BOC Aviation Ltd said on Friday it bought two Boeing 747-8 freighter aircraft for an aggregate list price of $758.2 million, as the aircraft lessor aims to build its balance sheet by investing in modern and in-demand aircraft.

BOC Aviation said it bought the aircraft from subsidiaries of Boeing Co and concurrently accepted an assignment of the leases of the aircraft to cargo airline AirBridgeCargo Airlines LLC.

The actual purchase price was lower than the list price, and the deal was funded through cash on hand, loans and other borrowings, the Hong Kong-listed firm said in a filing.

BOC Aviation earlier this week posted a record full-year net profit, supported by growth in global air travel, and signaled an upbeat outlook.