Airbus SAS won an order for 25 A320s from BOC Aviation Ltd. as the lessor expands its portfolio amid a surge in travel across the Asia-Pacific region.
BOC Aviation, a unit of Bank of China Ltd., will make an announcement on the engines later, the Singapore-based lessor said in an e-mail statement today. The order comprises A320 and A321 variants and deliveries are from 2015 to 2019, according to the statement.
Airbus yesterday predicted airlines globally will buy planes valued at $4.4 trillion in the next two decades, driven by demand in India and China and global growth among low-fare carriers. Economic growth in Malaysia, Indonesia and other Southeast Asian nations is boosting travel across the region, prompting Singapore Airlines Ltd., AirAsia Bhd. and PT Lion Mentari Airlines to place orders.
Including this purchase agreement, BOC Aviation’s cumulative orders for new Airbus aircraft reached a total of 212, of which 125 have already been delivered with 41 airlines and another 11 committed to lease, the lessor said.
BOC Aviation has a portfolio of 229 owned and managed aircraft operated by airlines worldwide and another 108 planes on firm order, according to the statement. The company’s fleet has an average age of less than four years.