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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  BOC Aviation Limited    2588   SG9999015267

BOC AVIATION LIMITED

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BOC Aviation: 18 Aircraft Scheduled for Delivery in 1st Half Have Been Delayed

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07/29/2019 | 10:24pm EDT

By Doug Cameron and Gaurav Raghuvanshi

BOC Aviation said Tuesday that it received fewer than half of its planned new jets in the first half of the year, citing production problems at Airbus SE (EADSY) and the grounding of the Boeing 737 MAX.

The Hong Kong-listed aircraft leasing firm took delivery of 14 aircraft through June, including two acquired by its airline customers and sold to it. However, 12 Airbus jets were delayed primarily due to industrial constraints and six Boeing planes didn't arrive, mainly because of a global grounding of the 737 MAX planes from Boeing, it said in a statement.

The company said it expects that some or all of the 23 remaining 737 MAX aircraft that were scheduled for delivery in 2019 will be delayed beyond this year, and it is working with Boeing on a revised schedule. The 737 MAX was the best-selling plane model globally before it was grounded in March following deadly crashes in Indonesia and Ethiopia that killed a total of 346 people.

BOC Aviation owns 314 aircraft and manages another 23 for its customers. It has another 162 planes on order. In the first six months of this year, the company signed 32 lease commitments and now has 92 airlines as its customers, according to the statement.

BOC Aviation also repossessed eight jets from collapsed carriers in the first half of this year, all of which have since been placed with other airlines, it said.

Write to Doug Cameron at doug.cameron@wsj.com and Gaurav Raghuvanshi at gaurav.raghuvanshi@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE -2.61% 59.34 Real-time Quote.-54.52%
AIRBUS SE 0.00%End-of-day quote.-53.93%
BOC AVIATION LIMITED -5.23% 48.9 End-of-day quote.-0.20%
BOEING COMPANY (THE) -2.06% 149.14 Delayed Quote.-53.25%
BOEING COMPANY (THE) 6.22% 157.38 Delayed Quote.-51.90%
E.ON SE -1.11% 9.441 Delayed Quote.-0.87%
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Financials (USD)
Sales 2020 2 142 M
EBIT 2020 1 289 M
Net income 2020 737 M
Debt 2020 15 707 M
Yield 2020 5,97%
P/E ratio 2020 6,02x
P/E ratio 2021 5,36x
EV / Sales2020 9,41x
EV / Sales2021 8,84x
Capitalization 4 441 M
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Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 9,30  $
Last Close Price 6,40  $
Spread / Highest target 63,6%
Spread / Average Target 45,3%
Spread / Lowest Target 6,20%
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Managers
NameTitle
Robert James Martin Chief Executive Officer, MD & Executive Director
Yu Sun Non-Executive Chairman
David Ryan Walton Chief Operating Officer
Thim Fatt Phang Chief Financial Officer & Deputy Managing Director
Mang Li Non-Executive Director
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