BOC Aviation reported a 4.4% year-on-year increase in net profit after tax to USD 357 million for the six months ended 30 June 2026. Earnings per share reached USD 0.51.

Total revenues and other income expanded 4.4% to USD 1.30 billion, driven primarily by a 5.5% rise in lease rental income to USD 988 million and an 8.2% gain in finance-lease interest income to USD 141 million. Core lease rental contribution hit a record USD 388 million, up 13.4%.

Operating costs rose 3.5% to USD 866 million, with depreciation accounting for USD 405 million and finance expenses for USD 377 million. The effective tax rate increased to 17.3% from 15.8% a year earlier.

Total assets grew 5.6% from year-end to USD 27.81 billion, while total equity improved to USD 7.03 billion. Gross and net debt-to-equity both stood at 2.6 times. Liquidity remained robust with USD 319 million in cash and USD 6.00 billion of undrawn committed credit facilities at period-end.

Fleet metrics remained strong: • 490 owned and managed aircraft and engines in service; average fleet age of 5.0 years and weighted average remaining lease term of 7.7 years. • Orderbook of 321 aircraft for delivery to 2032; all units due before 2028 are placed. • First-half activity included 24 new aircraft and one engine deliveries, 33 new lease commitments, and the sale of eight owned and five managed aircraft. • Owned aircraft utilisation was 100%, and cash collection from airline customers reached 99.2%.

Regional exposure by net book value was led by the Americas at 39.1%, followed by Asia-Pacific excluding Greater China at 18.7% and Greater China at 14.7%.

The board declared an interim dividend of USD 0.1799 per share, up 22.0% versus the prior-year interim payout. The distribution equates to 35% of interim net profit and will be paid on 14 October 2026 to shareholders on record 25 September 2026.

Credit ratings of A– from both Fitch and S&P Global were reaffirmed in June 2026, supporting an average cost of funds of 4.4%.

Management reaffirmed its delivery outlook of at least 49 aircraft for full-year 2026 and highlighted a future committed investment pipeline of USD 17.6 billion.