BOC Aviation : DBS Vickers Pulse of Asia Conference 2021

DBS Vickers Pulse of Asia Conference 2021

JANUARY 2021

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2020 Overview

STRONG ASSET

QUALITY

• 553 aircraft owned, managed and on order1
• 3.5 years2 average fleet age; 8.6

years2 average remaining lease term

• 99.6% aircraft utilization rate

ROBUST

LIQUIDITY

• RCF of US$3.5 billion from

Bank of China increased from US$2 billion and maturity extended to 20263

• Total available liquidity in excess of US$5 billion

	• 54 aircraft deliveries in 2020		A	• A- by S&P Global Ratings
	• 102 lease commitments signed in 2020		STRONG CREDIT	• A- by Fitch Ratings
PROACTIVE	• 100% of aircraft scheduled for delivery
	RATINGS
INVESTMENT	before 2023 placed
STRATEGY

• Committed to purchase 77		• Experienced management
	team successfully managed through
aircraft in the PLB market
	multiple cycles
• 52 aircraft orders cancelled	EXPERIENCED
RESCULPTED	MANAGEMENT AND • Bank of China provides ongoing
	support

ORDERBOOK	OWNERSHIP

A resilient performance in a challenging environment

All data as at 31 December 2020 unless otherwise indicated

Notes:

1. Includes all commitments to purchase aircraft including those where an airline customer has the right to acquire the relevant aircraft on delivery
2. Weighted by net book value of owned fleet

3. Announced on 3 December 2020

3

As at 30 June 2020

Owned aircraft with lease expiring in each calendar year, weighted by net book value, excluding one aircraft off lease and including aircraft on leases classified as finance leases. The aircraft off lease has been committed for lease as at 31 December 2020

Proactive Strategy

	New business generation in 2020	Updated guidance
•	Expansion of globally diverse customer	• FY2020E net profit after tax ("NPAT") is
	base: added business in Asia, Europe and	expected to be 25% and 30% lower than
	the Americas	FY2019 NPAT of US$702 million, due to
		higher levels of provisions for doubtful debts
•	New capital expenditure committed is	and aircraft impairments
	equivalent to approximately 40% of end-
	2019 aircraft net book value1	• Core leasing business continues to perform
		well
	Well-dispersed lease expiries2

81.0%

Average remaining lease term of 8.6 years

All data as at 31 December 2020 unless otherwise indicated Notes:

1.

2.

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