China's BOC orders 82 Boeing planes worth US$8.8b

Aircraft leasing firm BOC Aviation said Monday it has ordered 80 Boeing 737 planes and two B777-300ERs worth a total $8.8 billion at list prices, to meet expanding client needs as travel booms in Asia.

The Singapore-based company, owned by the Bank of China, said the bulk of the orders was for 50 B737 MAX 8 planes and 30 next-generation B737-800s. The 80 planes have a value of US$8.14 billion based on 2014 catalogue prices published on Boeing's website. The orders will allow BOC Aviation to build on its fleet for the next seven years, the company said in a statement.

The firm said it has also ordered two B777-300ER aircraft, worth a total US$660 million at catalogue prices. Both planes have already been placed with an existing customer, it added. US aircraft maker Boeing said in a separate statement that the order is the "largest in BOC Aviation's 20-year history" and is part of the leasing firm's effort "to grow its portfolio of fuel-efficient airplanes".

Robert Martin, BOC Aviation's managing director and chief executive, said the fresh B737 orders followed a similar purchase made in 2006 for 50 B737 next-generation aircraft. "This is a continuation of our commitment to be responsive to airline customers which are expanding or replacing older fleets," he said. "The 737 is known for its operational and fuel efficiency, and BOC Aviation expects healthy demand for the next generation 737 and 737 MAX in the next seven years."

As of Jun 30, BOC Aviation said its fleet of 251 delivered aircraft included 118 Boeing aircraft operated by 27 airlines. At the Farnborough airshow in July, BOC Aviation also ordered 43 Airbus single-aisle A320 passenger jets worth US$4.4 billion at list prices.

Boeing has projected a travel boom in the Asia Pacific region over the next 20 years from 2013, fuelled by a rising middle class and strong regional economic growth. "As income levels rise, Asia Pacific is set to become the largest air travel market in the world. In 2033, approximately 48 per cent of global traffic will be to, from, or within the region," Boeing said in its latest regional forecast.

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China's BOC orders Airbus planes in US$4.1b deal: firm

China's BOC Aviation has ordered 43 Airbus single-aisle A320 passenger jets worth more than $4.1 billion (3.0 billion euros), the European planemaker said on Tuesday, amid booming Asian demand for air travel.

BOC Aviation, the Singapore-based aircraft leasing arm of Bank of China, has ordered seven A320neo aircraft and 36 A320ceo jets, Airbus said at the Farnborough airshow near London.

"It's great to see one of the world's leading lessors, BOC Aviation, based in the fast growing Asian market, continuing to invest in our market leading A320 family," said Airbus president Fabrice Bregier.

"This tells us that not only are our aircraft universally recognised as the industry's benchmark for efficiency, comfort and reliability, but also underlines the financial community's confidence in the A320 Family as a sound financial asset."

BOC Aviation chief executive Robert Martin added: "By adding this order to our pipeline for the next five years, we are confident at meeting the needs of airlines which are expanding or replacing older fleets."

BOC Aviation has a fleet of 251 aircraft, which includes 109 Airbus aircraft operated by 27 airlines.

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