SINGAPUR (dpa-AFX) - BOC Aviation Ltd (BCVVF, 2588.HK), an aircraft operating leasing company, reported Thursday higher first-half profit, benefited by increased revenues. Meanwhile, passenger traffic growth was slower than last year.
Looking ahead, the company expects aviation demand to continue growing, while aircraft access remains constrained. Airline profitability is expected to face challenges from lower-than-previously-forecast traffic growth and higher jet fuel prices, which should support continued demand for aircraft financing.
BOC Aviation's orderbook comprises 320 aircraft scheduled for delivery through to the end of 2032. The company remains on track to achieve at least 49 aircraft deliveries in 2026.
In the first half, net profit after tax was $357 million in the first half of 2026, up 4 percent from $342 million in the first half of 2025.
Earnings per share increased to $0.51 from $0.49 in the prior year period. The company's profit before income tax rose to $431 million from $406 million last year.
Total revenues and other income reached $1.297 billion, a 4 percent increase compared with $1.242 billion in the first half of 2025. The company noted that all business lines recorded improved contributions despite geopolitical disruption in the Middle East during the period, which affected selected passenger and cargo traffic flows, and contributed to higher energy prices.
An orderbook of 320 aircraft, scheduled for delivery through to the end of 2032
Passenger traffic grew at a slower rate of 0.6 percent in the first half of 2026, compared with 5.1 percent in the first half of 2025. The average Brent crude oil price rose by 28 percent, while average Singapore jet kerosene prices increased 65 percent as refining margins widened.
First-half aircraft deliveries were broadly in line with the prior year. The company delivered 24 aircraft and one engine into its fleet during the period.
Further, the Board declared an interim dividend of $0.1799 per share, a 22 percent increase compared with $0.1476 per share last year.
In Hong Kong, the shares closed Thursday's regular trading at HK$77.950, up 4.28 percent.
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