BOC Aviation reports increased net profit for first half of 2020

BOC Aviation has reported net profit after tax (NPAT) of US$323 million in the first half of 2020, an increase in both NPAT and earnings per share compared with the same period last year. Total revenues and other income rose at around the same pace as its total assets in the first half of 2020, up 11% to US$1,035 million from US$930 million in the first half of last
year. The Board of Directors approved a distribution of US$0.1398 per share by way of interim dividend, which represents 30% of its NPAT in the first half of 2020, which is the same proportion of NPAT that the company distributed as an interim dividend in prior years.

During the six months ended June 2020, BOC Aviation generated positive operating cash flow net of finance expenses of US$555 million compared with US$629 million in the first half of 2019 and ended the half year with US$4 billion in available liquidity.

As of June 30, 2020, the company had a portfolio of 571 owned, managed and committed aircraft.

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