According to statements by Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited, they take no responsibility for the contents of the announcement by BOC Aviation Limited, make no representation as to its accuracy or completeness, and expressly disclaim any liability arising from or in reliance upon its contents.
On 3 December 2025, BOC Aviation Limited (the “Company”) announced an agreement to purchase two Airbus A350-1000 aircraft from Philippine Airlines Inc. (the “Airline”) and lease the aircraft back to the Airline. Under the terms of this arrangement, one aircraft is expected to be delivered in 2025, and the other is expected in 2026. The long-term operating leases for both aircraft fall within the Company’s ordinary and usual course of business and are deemed a Qualified Aircraft Leasing Activity.
BOC Aviation Limited is described as a leading global aircraft operating leasing company with a total portfolio of 812 aircraft and engines owned, managed, and on order as of 30 September 2025. Philippine Airlines Inc. is incorporated in the Republic of the Philippines and primarily operates as a commercial airline. The Airline and its ultimate beneficial owners are independent third parties and are not connected persons of BOC Aviation Limited.
Pursuant to the Listing Rules, one or more of the relevant percentage ratios for this transaction exceed 5% but remain below 25%. Consequently, the transaction constitutes a discloseable transaction. As a Qualified Aircraft Leasing Activity, it is exempt from additional announcement, circular, or shareholder approval requirements under Listing Rule 14.33C.
As noted in the announcement dated 4 December 2025, the Board of Directors of BOC Aviation Limited comprises a Chairman and Executive Director, an Executive Director, several Non-executive Directors, and several Independent Non-executive Directors, including the individuals named in the original disclosure.
Comments