BOC Aviation reports record profit for 2024

BOC Aviation reported a record net profit after tax (“NPAT”) of US$924 million for 2024, up 21% on the US$764 million reported in 2023. A 16% rise in core earnings combined with aircraft-related recoveries accounted for the improvement.
The company’s balance sheet increased to over US$25 billion, with total equity of US$6.4 billion. The company said it generated a record US$1.9 billion in operating free cashflow net of interest expense, which reduced its reliance on external capital sources. During 2024 the company committed to acquire a further 47 aircraft and ended the year with total committed capital expenditure of US$12 billion and an orderbook of 232 aircraft.
The Board of Directors has recommended a distribution of US$0.2670 per share by way of final dividend. This – in combination with the interim dividend – represents 35% of the company’s 2024 NPAT, or US$0.46581 per share, and will be its highest ever distribution.
“Our record 2024 earnings demonstrated both the power of our core business and the expertise of our team as we recovered value from previous write-downs,” said Steven Townend, Chief Executive Officer and Managing Director, BOC Aviation. “With global aircraft deliveries expected to rise by around 30% in 2025, our available liquidity of US$6.5 billion and existing strong pipeline of aircraft orders position us well to expand our business in the year ahead.”