BOC Aviation is a majority

state-owned State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public ownersh ...

global aircraft operating leasing company and the largest aircraft operating leasing company headquartered in Asia, as measured by the value of owned aircraft. BOC Aviation is listed on the

Hong Kong Stock Exchange The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is repor ...

() and has its headquarters in Singapore with offices in Dublin, London, New York and Tianjin.

History

The history dates back to 1993 when the company was founded as Singapore Aircraft Leasing Enterprise Pte. Ltd. (SALE) by

Singapore Airlines Singapore Airlines (abbreviation: SIA) is the flag carrier airline of the Republic of Singapore with its Airline hub, hub located at Singapore Changi Airport. The airline is notable for highlighting the Singapore Girl as its central figure in ...

Limited and Boullioun Aviation Services, Inc., a U.S.-based aircraft operating leasing company. In 1995 acquired its first owned aircraft and in 1996 placed the first order with Airbus. In 1997, the company's shareholder base was broadened when

Temasek Holdings Temasek Holdings (Private) Limited, or simply Temasek, is a Singaporean state holding company owned by the Government of Singapore. Incorporated on 25 June 1974, Temasek owns and manages a total of US$496.59 billion (S$671 billion) in assets u ...

(Private) Limited and

Government of Singapore Investment Corporation GIC Private Limited is a sovereign wealth fund in Singapore that manages its foreign reserves. Established by the Government of Singapore in 1981 as the Government of Singapore Investment Corporation, its mission is to preserve and enhance the ...

Private Limited joined the founders as investors. In 2000, the company was reported to be the largest customer of the Airbus' single-aisle aircraft in Asia. In July 2004, Singapore Aircraft Leasing Enterprise (SALE) underwent a change in its shareholder structure, following the transfer of the 35.5% stake held by Seattle-based Boullioun Aviation Services to the US lessor's parent company WestLB AG of Germany. Boullioun was a 100% subsidiary of

WestLB WestLB AG (derived from ''Westdeutsche Landesbank'', i.e. "Western German state Bank") was a European commercial bank based in Düsseldorf, Germany which was mainly owned by the German state of North Rhine-Westphalia. Landesbanks are a group of pa ...

from 2001, until 2005 when it was sold to Aviation Capital Group. The remaining ownership then of SALE was unchanged, with Singapore Airlines (SIA) holding 35.5%, and Singapore government investment agencies GIC and Temasek Holdings each retaining 14.5%. In December 2006, the company was acquired by, and became a wholly owned subsidiary of,

Bank of China The Bank of China (BOC; ) is a Chinese majority state-owned commercial bank headquartered in Beijing and the fourth largest bank in the world. The Bank of China was founded in 1912 by the Republican government as China's central bank, repl ...

. At the time, the company was the largest aircraft leasing company in Asia. Following the acquisition the company's name was changed to BOC Aviation Pte. Ltd. in 2007.

bought the company's shares for US$965million. Thus, to reflect the change in ownership, the company was renamed ''BOC Aviation'' on 2 July 2007. On 12 May 2016, the company was converted to a public company limited by shares and the company's name was changed to BOC Aviation Limited. On 1 June 2016, the company was listed on the Main Board of the Stock Exchange of Hong Kong.

Partnership

In August 2019, BOC Aviation signed a purchase-and-leaseback agreement with

Qatar Airways Qatar Airways Company Q.C.S.C. ( ar, القطرية, ''al-Qaṭariya''), operating as Qatar Airways, is the state-owned flag carrier airline of Qatar. Headquartered in the Qatar Airways Tower in Doha, the airline operates a hub-and-spoke netw ...

, the state-owned flag carrier of

Qatar Qatar (, ; ar, قطر, Qaṭar ; local vernacular pronunciation: ), officially the State of Qatar,) is a country in Western Asia. It occupies the Qatar Peninsula on the northeastern coast of the Arabian Peninsula in the Middle East; it sh ...

, for three new Airbus A350 twin-aisle aircraft to be delivered by the end of the third quarter.

External links

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References

{{DEFAULTSORT:Boc Aviation Aerospace companies of Singapore Bank of China Aircraft leasing companies Companies listed on the Hong Kong Stock Exchange Government-owned companies of China