BOC to increase aircraft assets

SINGAPORE - BOC Aviation, the aircraft-financing unit of Bank of China, said on Monday that it is looking to order more aircraft from manufacturers such as Airbus and Boeing this year, as the airline industry rebounds strongly from the global economic downturn.

BOC Aviation Chief Executive Officer Robert Martin said the company, which owns and manages around $6.6 billion worth of aircraft assets, was aiming to increase the assets to between $7.5 and $8 billion by the end of 2011.

"We could easily do $1 billion worth of 'purchase and lease back' business this year if the opportunities are available," Martin said.