BOC Aviation targets 1,000 aircraft by 2030
BOC Aviation is aiming to significantly expand its fleet, with plans to grow from its current 680 aircraft to 1,000 by 2030, according to Chief Executive Steven Townend.
Speaking to The Business Times, Townend outlined the company’s strategy to increase its portfolio size and strengthen its position within the global aircraft leasing market.
The move is driven by a desire to enhance the firm’s portfolio diversity and leverage its investment-grade credit ratings to secure larger deals with major airlines.
The expansion plan reflects BOC Aviation’s ambition to remain competitive in a sector where scale and diversity are crucial for securing high-value contracts with leading carriers.
However, Townend pointed to significant supply chain challenges facing the aviation industry.
He noted that aircraft manufacturers are struggling to produce planes fast enough to meet rising demand, a situation unlikely to improve before 2028. As a result, Townend expects lease rates to remain elevated for at least the next two to three years, sustained by the ongoing supply shortage.
BOC Aviation, headquartered in Singapore, is one of the world’s largest aircraft leasing companies, and this expansion plan is a key part of its long-term growth strategy.
Established in 1993, it is a subsidiary of the Bank of China and manages a diverse portfolio of modern, fuel-efficient aircraft, primarily leased to major airlines around the globe.
The company’s lessor strategy focuses on long-term relationships with major carriers and the leasing of modern, in-demand aircraft. BOC Aviation primarily targets young, narrowbody aircraft, like the Airbus A320neo and Boeing 737 MAX, which are favoured for their fuel efficiency and lower operational costs. This focus aligns with global trends toward greener, more sustainable aviation.
