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

BOC AVIATION LIMITED

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United sells 22 planes to Bank of China Aviation

04/19/2020 | 08:38am EST

United Airlines will sell and lease back 22 planes to Bank of China (BOC) Aviation, a statement from the aircraft investor released to the Hong Kong Stock Exchange said on Sunday.

The deal involves six Boeing 787-9 aircraft and 16 Boeing 737-9 MAX aircraft from United Airlines, the statement said.

The Singapore-based BOC Aviation did not reveal how much the purchase was worth but said the planes would be leased back to United on long-term agreements.

United said on Wednesday it had reduced its flight schedule in May by 90% and expects similar cuts for June as a result of the coronavirus pandemic.

The U.S. airline also said it flew less than 200,000 people in the first two weeks of April, a 97% drop from the more than 6 million people it flew during the same time in 2019.

BOC Aviation, which focuses on aircraft leasing, has a fleet of 567 planes owned, managed or on order as at the end of March, the statement said

The transaction was finalised on Friday and the deal is expected to close later this year, the statement said.

(Reporting by Scott Murdoch. Editing by Jane Merriman)

By Scott Murdoch


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BOC AVIATION LIMITED 1.50% 64.4 End-of-day quote.-3.88%
BYD COMPANY LIMITED 9.35% 278.4 End-of-day quote.37.01%
MAX CO., LTD. 1.46% 1462 End-of-day quote.1.60%
UNITED CONTINENTAL HOLDINGS, INC. 2.15% 41.25 Delayed Quote.-4.62%
All news about BOC AVIATION LIMITED
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Financials (USD)
Sales 2020 2 089 M - -
Net income 2020 532 M - -
Net Debt 2020 17 406 M - -
P/E ratio 2020 10,5x
Yield 2020 3,29%
Capitalization 5 645 M 5 644 M -
EV / Sales 2020 11,0x
EV / Sales 2021 10,3x
Nbr of Employees 179
Free-Float 100,0%
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Technical analysis trends BOC AVIATION LIMITED
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TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 8,90 $
Last Close Price 8,13 $
Spread / Highest target 23,7%
Spread / Average Target 9,39%
Spread / Lowest Target -18,9%
EPS Revisions
Managers and Directors
NameTitle
Robert James Martin Chief Executive Officer, MD & Executive Director
David Ryan Walton Chief Operating Officer
Steven Matthew Townend Chief Financial Officer & Deputy Managing Director
Mang Li Non-Executive Director
Lin Zhu Non-Executive Director