Chicago-based Boeing today announced its latest order from BOC Aviation. BOC, a subsidiary of the Bank of China, is an aircraft leasing company that distributes to prospective air carriers. BOC Aviation elaborated that their leasing options are “primarily based on the popular Airbus A320 family and Boeing Next Generation 737 series as well as the Embraer 190/195 family.” The order from Boeing consists of 50 737 MAX 8s, 30 Next-Generation 737-800s and two 777-300ERs (Extended Range).
After being founded in November 1993, BOC first placed orders to Airbus for 12 A320’s in 1996 and six Boeing 777’s the following year. BOC placed its first order for 15 Embraer Regional Jet E190’s in 2011.
The Singapore-based aircraft leasing company concluded this latest order today, making it the biggest financial purchase in the company’s 20-year span, and is estimated to be worth about $8.8 billion. Dinesh Keskar, Senior Vice President of Asia and India sales for Boeing, said “BOC Aviation has established a proven track record in the airplane leasing industry… they have played an important role in the success of the Next-Generation 737 and the 777-300ER in the leasing market by helping place the airplanes with airlines worldwide. We’re excited about our continued relationship with BOC Aviation and look forward to working with them on the new 737 MAX.”
The leasing company was fully acquired by the Bank of China in 2006 and now operates under its full discretion. BOC’s official website details “a wide range of services from operating leases to equity and debt financing.” Over the course of the past 20 years, it has distributed aircraft to air carriers in Asia, Europe, Africa, the Middle East, North and South America. BOC stated that this order will hopefully help the “company’s effort to grow its portfolio of fuel-efficient airplanes.” Deliveries will happen continually from 2016 through 2021.
