SINGAPORE: Aircraft leasing firm BOC Aviation signed leases for a record 52 aircraft in 2008. These included 20 aircraft that were acquired via purchase-and-leasebacks (PLB).

Of the 52 leases signed, 32 were for the placement of new aircraft. Four of the 32 aircraft have already been delivered to customers, with the remaining scheduled for delivery from 2009 through to 2013.

The Asia-based firm, which is owned by the Bank of China, has a portfolio of 97 aircraft.

Looking ahead, BOC Aviation expects to be active in the PLB market for the coming year.

Robert Martin, managing director and chief executive officer of BOC Aviation, said: "Airlines are expressing a lot of interest in PLB transactions as the global financial turmoil continues. Only financially strong lessors can take advantage of this opportunity due to its capital intensive nature.

"Having continued access to funding is critical and we are proud to say that we have the continued support of our bankers, the export credit agencies and Bank of China, our parent. We utilised all three sources of funding for transactions that closed in the last quarter."


- CNA/so