BOC Aviation Becomes Largest Aircraft Leasing Company in Asia
OREANDA-NEWS. July 13, 2011. On December 15, 2006, Bank of China acquired 100% of Singapore Aircraft Leasing Enterprise's share capital at USD 965 million, making the first foreign acquisition after listing. Then the company was renamed as BOC Aviation. Since the acquisition, it has overcome the financial crisis, and made achievements in smooth transition, growing businesses and profits, and the goal of being large and strong. Such is valuable experience for Bank of China to improve its comprehensive operation, reported the press-centre of BOC.
In 2006, Bank of China established its development philosophy to expand the aviation leasing businesses by combining its own features with the national strategy and industrial policy. Led by the scientific approaches from its management, the bank took the initiative to communicate with relevant government departments, and conducted in-depth market research, laying a solid foundation for various tasks. At that time, it grasped the M&A opportunity and concluded the acquisition through market-oriented operation with the decision made by its management, owning the largest aircraft leasing business platform in Asia.
After the acquisition, Bank of China improved the corporate governance and the basic regulatory system, established the talent retention and training mechanism by following the market-oriented principle. It combined its capital strength and customer resource with the Leasing Enterprise's professional expertise, operational model and marketing approaches through effective integration and complementation. As a result, a synergized development is achieved, driving the leasing businesses to be profitable against the negative market trend, with its competitive edge sharpened in the international market.
The company's aircraft fleet assets reaches USD 6 billion from USD 2.6 billion at the beginning of M&A, exceeding the threshold of economies of scale in the industry, ranking the 5th in the world and the 1st in Asia. It grows from a local company to an active enterprise attracting the attention from its counterparts in the market. The profits have been increased year by year since 2007. The accumulated profit is USD 493 million, surpassing Bank of China's acquisition premium. At the same time, the stockholders' equity increases accordingly.
Комментарии