BOC Aviation entered into a purchase-and-leaseback arrangement with Air China for five aircraft, comprising three Boeing 777-300ER aircraft and two Airbus A330-300 aircraft, all scheduled for delivery new from the manufacturer in Q4/16.

“We are pleased to support Air China in its fleet growth and expansion plans in this transaction, which adds popular, in-demand aircraft on long-term leases to our portfolio,” said Robert Martin, managing director and CEO of BOC Aviation. “This transaction also represents incremental capital expenditure in 2016, and we continue to focus on disciplined investing to grow our fleet in line with our current strategy.”

BOC Aviation is a global aircraft operating leasing company with a fleet of 483 aircraft owned, managed or on order. Its owned and managed fleet was leased to 64 airlines worldwide in 31 countries as at June 30, 2016.