BOC Aviation Celebrates Record-Breaking 2026 Performance As Aircraft Leasing Business Gains Strength

Written By: Binoy Mehera

Binoy Mehera

A curious mind driven by a passion for storytelling, I find inspiration in uncovering hidden perspectives, exploring diverse experiences, and shaping ideas into narratives that leave an impact. With three years of experience in journalism and content creation, I have developed a strong instinct for identifying meaningful stories, blending research with creativity, and presenting information in a way that connects with readers. My storytelling journey is guided by a fascination for culture, travel, lifestyle, and the human experiences that define our world. I aim to create narratives that not only inform but also spark curiosity, evoke emotions, and offer audiences a deeper understanding of every story.

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August 21, 2026 11:42 AM

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BOC Aviation recorded its strongest first half ever in 2026 thanks to its leasing business, which increased profits, revenues, and the new aircraft ordered. The company’s strong order book also reflected global airline demand. They announced improved financial results, increased asset values, and utilization of all their aircraft, affirming their dominance in the global aviation leasing industry.

The aircraft leasing company recorded a net profit after tax (NPAT) of US$357 million in the first half of 2026, marking a 4% increase in reported earnings and its strongest result excluding non-recurring items. Total revenue and other income reached US$1.3 billion, up 4% compared with the same period in 2025, supported by improved performance across every business line.

During the first six months of 2026, BOC Aviation continued its expansion strategy, increasing total assets by 6% to US$27.8 billion. The company invested US$2.3 billion in capital during the period as it progressed towards its long-term growth objectives. Total equity also strengthened, rising to US$7.0 billion.

The company’s Board of Directors approved an interim dividend distribution of US$0.1799 per share. The payment represents 35% of first-half 2026 NPAT, higher than the previous interim dividend payout ratio of 30% in earlier years.

The increased dividend reflects BOC Aviation’s improved full-year distribution guidance of 40% and highlights the company’s continued strong cash generation, profitability and financial position.

“Our leasing, trading and financing activities all recorded significant improvements in the first half of 2026,” said Steven Townend, Chief Executive Officer and Managing Director.  “These improved earnings, along with our strong balance sheet enabled us to increase the first half dividend by 22% compared with the same period last year.”

Financial Highlights

BOC Aviation delivered a strong financial performance during the six months ended 30 June 2026, supported by revenue growth, higher profitability and continued balance sheet strength.

The company reported total revenues and other income of US$1.297 billion for the first half of 2026, representing a 4% increase from US$1.242 billion recorded during the same period in 2025. Net profit after tax reached US$357 million, also rising 4% year on year from US$342 million in the first half of 2025.

Earnings per share stood at US$0.51, reflecting the company’s continued ability to generate value from its global aircraft leasing operations. The Board of Directors declared an interim dividend of US$0.1799 per share, compared with US$0.1476 per share in the first half of 2025, demonstrating stronger shareholder returns.

BOC Aviation expanded its financial base during the period, with total assets increasing to US$27.8 billion as of 30 June 2026, up from US$26.3 billion at the end of December 2025. Net assets strengthened to US$7.0 billion.

The company’s core lease rental contribution reached a record US$388 million in the first half of 2026, highlighting strong leasing performance and demand for its aircraft portfolio. BOC Aviation also maintained a solid liquidity position, supported by US$6.0 billion in undrawn committed credit facilities and US$319 million in cash and cash equivalents at the end of June 2026.

Portfolio and Operational Highlights

BOC Aviation continued to expand and strengthen its global aircraft portfolio during the first half of 2026, maintaining a young fleet profile and strong relationships with airline customers worldwide.

As of 30 June 2026, the company’s total fleet consisted of 811 aircraft and engines, including owned, managed and aircraft on order. The average aircraft age remained at 5.0 years, while the average remaining lease term for owned aircraft was 7.7 years, based on net book value weighting.

The company maintained a strong future growth pipeline with an orderbook of 320 aircraft, scheduled for delivery through the end of 2032. During the first half of 2026, BOC Aviation received 24 new aircraft and one engine, further expanding its fleet capacity.

The company also actively managed its portfolio by completing the sale of eight owned aircraft and five managed aircraft during the period. In addition, it secured 33 new lease commitments, reinforcing long-term partnerships with airlines across international markets.

BOC Aviation’s owned and managed portfolios served 88 airlines across 45 countries and regions, highlighting the company’s broad global presence and diversified customer base.

Operational performance remained strong, with owned aircraft utilisation reaching 100% during the first half of 2026. Airline customer payments also remained highly reliable, with cash collections reaching 99.2% during the period.

The combination of strong financial results, fleet expansion, high utilisation levels and stable customer demand reflects BOC Aviation’s continued growth strategy in the global aircraft leasing market.