Financial Performance - Operating revenue increased by 13% to $930 million for the first half of 2019, compared to $825 million in the same period of 2018[6]. - Net profit after tax for the first half of 2019 was $321 million, an 8% increase from $297 million in the same period of 2018[6]. - Total operating revenue and other income rose by 12.8% to $930 million, primarily driven by increased rental income from the growing aircraft portfolio[32]. - Rental income for the first half of 2019 was $832 million, up 10.5% from $753 million in the same period of 2018, due to an increase in fleet size from 294 to 314 aircraft[33]. - The company's net profit for the six months ended June 30, 2019, was $321 million, an increase of 8.1% compared to the same period last year[30]. - Basic earnings per share for the first half of 2019 was $0.46, compared to $0.43 for the same period in 2018, reflecting a growth of 7%[96]. Assets and Liabilities - Total assets reached $19.2 billion as of June 30, 2019, a 5% increase from $18.3 billion at the end of 2018[9]. - The company's total liabilities as of June 30, 2019, were $14,869,862 thousand, compared to $14,057,197 thousand at the end of 2018, marking an increase of 5.8%[99]. - The total amount of trade and other payables was $198.891 million as of June 30, 2019, compared to $156.923 million as of December 31, 2018, representing a 26.7% increase[132]. - The company's total debt increased by 5.1% from $12.28 billion on December 31, 2018, to $12.91 billion on June 30, 2019, to fund increased capital expenditures[52]. - The total equity increased by 2.2% from $4.20 billion on December 31, 2018, to $4.29 billion on June 30, 2019, supported by retained earnings growth[55]. Aircraft Portfolio - The company has a total of 499 aircraft in its operating portfolio, including 314 owned aircraft with an average age of 3.1 years[10]. - A total of 25 aircraft were delivered in the first half of 2019, with 39 lease commitments signed during the same period[10]. - The average remaining lease term for the owned fleet is 8.2 years[10]. - The aircraft portfolio utilization rate was 99.6%, and the cash collection rate from airline customers was 97.2%[6]. - The fleet size increased from 303 to 314 aircraft, with a weighted average aircraft age of 3.1 years and a weighted average remaining lease term of 8.2 years as of June 30, 2019[26]. Financial Costs and Expenses - Total costs and expenses increased by 16.9% to $579 million, mainly due to higher depreciation of property, plant, and equipment, and increased financial costs[35]. - Financial costs for the first half of 2019 were $213 million, a 31.1% increase from $162 million in the same period of 2018, attributed to rising debt levels and average debt cost[37]. - The company's depreciation expense for property, plant, and equipment was $297,703 thousand for the first half of 2019, compared to $267,173 thousand in the same period of 2018[102]. Dividends - The interim dividend declared is $0.1388 per share[6]. - The proposed interim dividend for the period ending June 30, 2019, is $0.1388 per share, totaling $96.329 million, compared to $89.111 million for the same period in 2018[186]. - The total dividend declared for the year ending December 31, 2018, was $0.1845 per share, amounting to $128.045 million, which was paid on June 30, 2019[185]. Corporate Governance - The audit committee, consisting of three independent non-executive directors and two non-executive directors, oversees the company's financial reporting and internal control procedures[82]. - The company has fully complied with the corporate governance code as outlined in the listing rules during the six-month period ending June 30, 2019[83]. - The management team includes Robert James Martin as the Managing Director and CEO, and Peng Tianfa as the CFO[88]. Future Commitments and Projections - The company expects delivery delays for up to 30 aircraft, primarily due to the grounding of the Boeing 737 MAX[12]. - The company has projected cash outflows for aircraft capital expenditures of $7.7 billion through 2021, with $2.6 billion expected in the second half of 2019 and $3.9 billion in 2020[62]. - The company has committed to purchasing over 162 aircraft, with a total procurement value exceeding $44 billion since its establishment[28]. Financial Instruments and Risk Management - The group has outstanding nominal amounts of derivative financial instruments totaling $4,000,000 million, with various interest rates ranging from 1.975% to 4.242%[150][155]. - The group’s derivative instruments are assessed as highly effective for hedge accounting purposes[151]. - The company continues to manage financial risks including interest rate, liquidity, credit, and foreign exchange risks without significant changes in exposure or management policies[169].

Financial Performance - The company's operating revenue and other income increased by 23% to $1.726 billion in 2018[6] - Pre-tax profit rose by 24% to $685 million, while net profit after tax reached $620 million, reflecting a 5.8% increase[10] - Total operating revenue and other income amounted to $1.725 billion, an increase of 23.2% from $1.4 billion in 2017, primarily driven by higher lease rental income[83] - Lease rental income reached $1.543 billion, up 20.2% from $1.284 billion in 2017, mainly due to the full-year impact of newly added aircraft assets[82] - The company reported a floating profit exceeding $600 million for the year 2018, marking a significant milestone in its 25-year history[27] - The company's net profit for the year ended December 31, 2018, was $620.4 million, representing a growth of 5.8% compared to the previous year[81] - The company has generated a cumulative net profit of over $3.7 billion since its inception, with over $670 million distributed to shareholders as dividends[20] Assets and Liabilities - Total assets amounted to $18.256 billion, a 13.8% increase year-on-year[10] - Non-current assets increased by 16.4% to $17.999 billion[10] - The total assets grew by $2.3 billion to $18.3 billion, driven by aircraft investments[65] - The total liabilities increased by over $1.8 billion in 2018, reflecting fleet expansion[73] - Total debt increased to $12,476 million as of December 31, 2018, from $10,939 million in 2017, reflecting a growth rate of approximately 14%[99] - The debt-to-equity ratio increased to 3.0 times in 2018 from 2.9 times in 2017, indicating a higher leverage position[99] Fleet and Aircraft - The fleet consisted of 511 aircraft, including 303 owned aircraft, with 55 aircraft delivered in 2018[11] - The company has a total of 183 aircraft on order, indicating ongoing market expansion[12] - The average age of the owned fleet is 3 years, with an average remaining lease term of 8.3 years, among the longest in the aircraft leasing industry[40] - The company has purchased and committed to over 800 aircraft, with a total purchase price exceeding $44 billion[45] - The company delivered 55 aircraft to airline customers in 2018, bringing the total owned, managed, and ordered aircraft to a record high of 511[40] Funding and Capital Expenditure - The company raised $2.7 billion in new funding, resulting in a capital-to-debt ratio of 3.0 times[6] - The company raised over $2.7 billion in funding, including $1.7 billion from the debt capital markets, as of December 31, 2018[42] - The company's capital expenditure commitments reached $9.2 billion at the end of 2018, a 17% increase from 2017, with $3.4 billion in capital investments already signed for 2019[40] - Future committed rental income from owned and planned aircraft increased to $16 billion as of December 31, 2018[40] Dividends and Shareholder Returns - The board proposed a final dividend of $0.1845 per share, bringing the total dividend for 2018 to $0.3129 per share[6] - The total dividend for the year, including an interim dividend of $0.1284 per share, amounts to $0.3129 per share, distributing a total of about $217.2 million to shareholders[170] Governance and Corporate Structure - The company adopted and complied with the corporate governance code principles and all applicable code provisions as of December 31, 2018[127] - The board of directors consists of a chairman, four non-executive directors, four independent non-executive directors, and two executive directors[134] - The company has established policies and practices to comply with legal and regulatory requirements[128] - The company emphasizes the importance of risk management and internal controls in its governance practices[132] Risk Management - The board is responsible for establishing and maintaining risk management and internal control systems[146] - The company aims to manage risks to achieve business objectives rather than eliminate them entirely[146] - The company’s risk management committee continuously reviews risk factors affecting the balance sheet, including asset/credit risk and liability risk[161] Market Position and Strategy - The company has successfully navigated five economic and industry downturns over its 25 years of operation, establishing a leading position in the aircraft leasing industry[22] - The company is focused on reducing carbon emissions through a fleet of fuel-efficient aircraft, aligning with sustainability goals[80] - The company expects further growth in 2019 due to continued passenger demand and lower oil prices driving demand for leased aircraft[42] Employee and Operational Insights - The company's personnel expenses for the year ended December 31, 2018, were $9.2 million, accounting for approximately 5.3% of total operating revenue and other income[109] - The number of employees engaged in business operations and management increased from 151 as of December 31, 2017, to 169 as of December 31, 2018[109] Audit and Compliance - The audit committee expressed satisfaction with the independence and effectiveness of Ernst & Young LLP's audit procedures[167] - The company’s audit committee reviewed the financial statements for the year ended December 31, 2018, ensuring adherence to accounting principles and internal controls[199]