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

BOC AVIATION LIMITED

(2588)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 11/30
68.9 HKD   +0.80%
11/24Chinese State Reduces Stake in Norwegian Air to 4.92%
DJ
11/24BOC Aviation cuts stake in Norwegian Air to 4.9%
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11/24BOC AVIATION : Norwegian air shuttle asa - disclosure of sale of shareholding
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Lessor BOC Aviation says airline clients repaying delayed rentals

08/21/2020 | 09:45am EST
A BoC Aviation signage at their office in Singapore

Most of BOC Aviation's (BOCA) airline clients have resumed rental payments, a sign of cautious optimism, after deferring payments when the pandemic struck this year, the Asian lessor's top executive told Reuters in an interview.

BOCA has completed repayment negotiations with the bulk of its customers, and airlines in markets such as China and the United States are recovering well after the industry was brought to a near stand-still by COVID-19, CEO Robert Martin said on Thursday.

"Already, we've been repaid a lot of the deferrrals that were put in place," he said after BOCA reported flat first-half net profit at $323 million, while total revenue and other income rose 11%.

"Experienced airlines clearly moved very quickly to react to the situation. The guys at the other end of the spectrum tended to be the entrepreneur-led airlines with big orders in emerging markets, and some of those have still got to come to the table," said Martin, an industry veteran of over 30 years.

Singapore-headquartered BOCA is one of the world's biggest lessors, with a fleet of 571 planes, including those on order. This year, it struck big deals with airlines to buy and lease back aircraft.

Airlines have deferred payments to lessors, which have shored up funding and delayed taking deliveries from Airbus and Boeing, after expanding furiously in an industry boom over the past few decades.

BOCA took a $12 million asset impairment on five Boeing aircraft already delivered and repossessed three other planes.

"Things generally are getting better. I judge that from our internal cashflows but there are specific situations that will need to be worked out in the second half," he said, adding that BOCA had no unplaced new aircraft until 2023.

(Reporting by Anshuman Daga. Editing by Gerry Doyle)

By Anshuman Daga


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE 0.78% 90.55 Real-time Quote.-31.48%
BOC AVIATION LIMITED 0.80% 68.9 End-of-day quote.-13.06%
THE BOEING COMPANY 1.09% 213.01 Delayed Quote.-35.32%
All news about BOC AVIATION LIMITED
11/24Chinese State Reduces Stake in Norwegian Air to 4.92%
DJ
11/24BOC Aviation cuts stake in Norwegian Air to 4.9%
RE
11/24BOC AVIATION : Norwegian air shuttle asa - disclosure of sale of shareholding
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10/29EXCLUSIVE : AirAsia X to revise $15.3 billion debt reform plan to expedite talks..
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09/24BOC AVIATION : Norwegian air shuttle asa - disclosure of sale of shareholding
AQ
09/04Malaysia's AirAsia X says lessor files $23 million claim for outstanding dues
RE
08/30BOC AVIATION : Amendment to purchase agreement
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08/27BOC AVIATION LIMITED : half-yearly earnings release
08/21Lessor BOC Aviation says airline clients repaying delayed rentals
RE
08/21Lessor BOC Aviation says airline clients repaying delayed rentals
RE
More news
Financials (USD)
Sales 2020 2 158 M - -
Net income 2020 669 M - -
Net Debt 2020 17 248 M - -
P/E ratio 2020 9,39x
Yield 2020 3,63%
Capitalization 6 280 M 6 280 M -
EV / Sales 2020 10,9x
EV / Sales 2021 10,1x
Nbr of Employees 179
Free-Float 99,0%
Chart BOC AVIATION LIMITED
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Technical analysis trends BOC AVIATION LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 8,53 $
Last Close Price 9,05 $
Spread / Highest target 4,06%
Spread / Average Target -5,74%
Spread / Lowest Target -27,1%
EPS Revisions
Managers
NameTitle
Robert James Martin Chief Executive Officer, MD & Executive Director
Yu Sun Non-Executive Chairman
David Ryan Walton Chief Operating Officer
Steven Matthew Townend Chief Financial Officer & Deputy Managing Director
Mang Li Non-Executive Director
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