Reuters has reported most of BOC Aviation´s (BOCA) airline clients are repaying delayed rentals, following deferrals of payments when the COVID-19 pandemic struck, the news source said.
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.
Singapore-headquartered BOCA is a lessor, with a fleet of 571 planes, including those on order. This year, it struck 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 USD 12 million asset impairment on five Boeing aircraft already delivered and repossessed three other planes.