Financial Performance - Total operating revenue and other income increased by 6% to $2.307 billion[4] - Net profit after tax was $20 million, down from $561 million in 2021, impacted by a $507 million impairment related to Russian aircraft[4] - Core net profit after tax, excluding the impairment, was $527 million, a decrease of 6% from 2021[5] - Operating cash flow (excluding interest) increased by 14% to $1.5 billion[4] - Total assets as of December 31, 2022, were $22.071 billion, a decrease of 7.6% from the previous year[5] - The company achieved a pre-tax profit of $29 million and a net profit of $20 million, a decrease primarily due to the impact of the Russia-Ukraine conflict[16] - Core pre-tax profit, excluding the impact of aircraft impairment, was $598 million, with core net profit at $527 million, showing minimal change compared to 2021[19] - Total operating revenue and other income increased by 5.7% to $2.3 billion, while total costs and expenses rose by 47.5% to $2.3 billion, mainly due to asset write-downs[61] - Net profit for the year decreased by 96.4% to $20.1 million in 2022, compared to $561.3 million in 2021[81] Liquidity and Capital Structure - The company maintained strong liquidity with cash and cash equivalents of $392 million and undrawn committed loan facilities of $4.9 billion, totaling $5.3 billion in liquidity[4] - The company’s capital expenditure net amount was $1.2 billion, affected by delays in aircraft deliveries, with a financing requirement of $900 million, primarily sourced from bank channels[22] - The company raised over $38 billion in debt financing since its inception, with a strong investment-grade credit rating of A- from both Fitch and S&P[26][27] - Total liabilities decreased by 9.4% from $18.61 billion on December 31, 2021, to $16.87 billion on December 31, 2022, primarily due to repayments of loans[85] - Total equity as of December 31, 2022, was $5.20 billion, a decrease of 1.2% from $5.27 billion on December 31, 2021, mainly due to dividends paid[95] Aircraft Fleet and Transactions - The fleet consisted of 633 aircraft, with an average remaining lease term of 8.1 years and a utilization rate of 96%[11] - The company executed 298 transactions in 2022, including commitments to purchase 147 aircraft and delivery of 34 aircraft[11] - The year-end order book included 206 aircraft, with significant orders placed with Airbus and Boeing for a total of 120 aircraft[11] - The company delivered 34 aircraft to airline customers in 2022, bringing the total owned and managed fleet to 427 aircraft[21] - The average remaining lease term for the owned fleet is 8.1 years, with approximately 80% of leases set to expire in 2029 or later[32][33] Revenue Sources and Trends - The total operating income for 2022 was $2.307 billion, with lease rental income contributing 86%, interest and fees at 11%, and aircraft sales net income at 3%[29] - Lease rental income decreased by 4.3% to $1.78 billion in 2022 from $1.86 billion in 2021, mainly due to the termination of leases with Russian airlines[64] - Income from lease terminations surged by 201.8% to $222.9 million in 2022, primarily due to lease terminations with Russian airlines[68] - Other income rose by 323.1% to $99.0 million in 2022, driven by previously unutilized maintenance reserves and deposits[69] Corporate Governance and Management - The company adopted and complied with the corporate governance code principles and all applicable code provisions for the year ended December 31, 2022[144] - The company is committed to high standards of corporate ethics, integrity, transparency, and accountability to enhance shareholder value[144] - The board consists of five non-executive directors, four independent non-executive directors, and two executive directors, ensuring a diverse governance structure[156] - The company has achieved a gender diversity goal with three female directors, exceeding the target of at least two female directors[160] - The board has a clear division of responsibilities between the chairman and the CEO, enhancing governance effectiveness[155] Risk Management and Internal Controls - The audit committee oversees the establishment and maintenance of risk management and internal control systems, ensuring their effectiveness[176] - The company conducts annual assessments of its risk management and internal control systems, confirming their effectiveness and adequacy in 2022[179] - The internal audit department is responsible for reviewing compliance with policies and procedures across the organization[177] - The company has established procedures for identifying, controlling, and reporting major risks, including financial and operational risks[179] Future Outlook and Strategic Initiatives - The company provided guidance for the next fiscal year, projecting revenue growth of 10% to $1.32 billion[121] - New product launches are expected to contribute an additional $200 million in revenue, with a focus on innovative leasing solutions[121] - The company is expanding its market presence in Asia, targeting a 25% increase in market share over the next two years[121] - Research and development investments increased by 30%, focusing on advanced aircraft technology and sustainability initiatives[121]

Financial Performance - BOC Aviation recorded a core after-tax net profit of $206 million for the first half of 2022, excluding the impact of impairment on 17 aircraft in Russia, while including the impairment, the after-tax net loss was $313 million, or a loss of $0.45 per share [3]. - The company recorded a net loss of $313 million for the first half of 2022, compared to a net profit of $254 million in the same period of 2021, primarily due to an impairment of $804 million related to 17 aircraft in Russia [28]. - The net loss attributable to the company for the current period was $(312,548) thousand, compared to a profit of $253,926 thousand in the same period of 2021, indicating a significant decline [109]. - The company reported a basic and diluted loss per share of $(0.45), compared to earnings of $0.37 per share in the same period of the previous year [108]. - The company incurred a pre-tax loss of $346,865,000 for the first half of 2022, compared to a pre-tax profit of $287,623,000 in the same period of 2021 [114]. Revenue and Income - Total operating revenue and other income increased by 8% to $1.196 billion compared to the first half of 2021 [7]. - Total revenue for the first half of 2022 increased by 8% to $1.196 billion, including $223 million from the termination of leases with Russian airlines [29]. - The company reported a substantial increase in income from terminated leases, which rose to $222,876 thousand from $73,855 thousand, reflecting a growth of 201.5% [108]. - The company reported a decrease in lease rental income by 5% to $877 million and a 19% decline in core lease rental contributions to $280 million due to aircraft being off-lease and losses from Russian aircraft [29]. Assets and Liabilities - Total assets decreased by 4% to $22.8 billion as of June 30, 2022, primarily due to the impairment of aircraft in Russia [7]. - The total liabilities as of June 30, 2022, included $13,699,906 thousand in non-current liabilities, down from $14,865,627 thousand as of December 31, 2021, indicating a decrease of about 7.8% [156]. - The company's total liabilities decreased to $17,892,587 thousand from $18,613,450 thousand, indicating a reduction of 3.9% [111]. - The net book value of aircraft as of June 30, 2022, was $1.2308 billion, a decrease from $1.5667 billion on December 31, 2021 [137]. Cash Flow and Liquidity - Operating cash flow (excluding interest) rose by 29% to $717 million for the first half of 2022 [7]. - The liquidity position remained strong, with $6 billion in cash and available credit lines as of June 30, 2022 [4]. - The company maintained a strong liquidity position with $454 million in cash and short-term deposits as of June 30, 2022 [9]. - Cash generated from operating activities for the first half of 2022 was $946,169,000, an increase from $797,064,000 in the same period of 2021, representing a growth of about 18.7% [114]. Aircraft and Fleet - The fleet consisted of 608 aircraft, with an average remaining lease term of 8.4 years and an average age of 4.1 years for owned aircraft [10]. - The total number of aircraft owned increased from 380 at the end of 2021 to 390 by June 30, 2022, despite delays in deliveries impacting growth [29]. - The company signed its largest aircraft order in history, committing to purchase 80 Airbus A320NEO series aircraft, which will support future operating revenue [4]. - The company has ordered 181 aircraft for delivery through 2029, with 69% of its owned fleet consisting of the latest technology aircraft as of June 30, 2022, up from 66% at the end of 2021 [32]. Dividends - The company declared an interim dividend of $0.0889 per share, representing 30% of core after-tax net profit, consistent with previous years [3]. - The company declared an interim dividend of $0.0889 per share, representing 30% of adjusted net profit of $206 million, reflecting confidence in cash flow and core business performance [28]. - The proposed interim dividend for the period ending June 30, 2022, is $0.0889 per share, totaling $61,698 thousand, compared to $76,202 thousand for the same period in 2021, representing a decrease of approximately 18.9% [175]. Impairment and Expenses - Aircraft impairment rose by 916.2% from $84 million in the first half of 2021 to $851 million in the first half of 2022, mainly due to an impairment of $804 million on 17 aircraft [42]. - Financial asset impairment losses decreased by 90.6% from $63 million in the first half of 2021 to $6 million in the first half of 2022, as the aviation industry began to recover from the COVID-19 pandemic [45]. - Total costs and expenses decreased from $820 million in the first half of 2021 to $739 million in the first half of 2022, primarily due to reduced financial asset impairment losses and decreased aircraft impairment [40]. Corporate Governance and Compliance - The company has fully complied with the corporate governance code as of June 30, 2022 [94]. - The audit committee consists of three independent non-executive directors and two non-executive directors, ensuring oversight of financial reporting and internal controls [93]. - The financial statements were prepared in accordance with International Accounting Standard 34 and Singapore Financial Reporting Standards (International) 1-34 [106]. Shareholder Information - As of June 30, 2022, Central Huijin Investment Ltd. holds 70% of the company's issued share capital, with China Bank and BOC Investment also holding the same percentage [81]. - The company reported a total of 694,010 thousand shares issued and fully paid as of June 30, 2022, consistent with the same number as of December 31, 2021 [171]. - The company has granted 1,178,077 restricted stock units to directors and key executives as of June 30, 2022, compared to 746,615 units as of December 31, 2021 [188].

Financial Performance - Total operating revenue and other income increased by 6% to $2.183 billion in 2021[6] - Pre-tax profit reached $639 million, a 13% increase compared to 2020, while net profit after tax rose by 10% to $561 million[6] - Earnings per share (EPS) improved to $0.81, up 10.1% from $0.73 in 2020[8] - Total operating revenue and other income increased to $2.2 billion, up 6% year-on-year[18] - The company reported a net profit after tax of $561 million in 2021, with a return on equity of 11.2%[37] - The net profit for the year ended December 31, 2021, was $561.3 million, an increase of 10.1% compared to $509.8 million in 2020[57] - The pre-tax profit for 2021 was $638.7 million, up 13.4% from $563.0 million in 2020[57] - Lease rental income increased by 4.5% to $1.87 billion in 2021 from $1.78 billion in 2020[58] - Total operating income and other income rose by 6.3% to $2.18 billion in 2021 compared to $2.05 billion in 2020[58] Assets and Liabilities - Total assets remained stable at $23.9 billion, with cash and cash equivalents amounting to $486 million, a 19.3% increase from the previous year[8] - As of December 31, 2021, the total asset value reached $23.9 billion, compared to $23.6 billion at the end of 2020[18] - Total assets increased by 1.3% to $23.9 billion as of December 31, 2021, from $23.6 billion in 2020[72] - Total liabilities remained stable at approximately $16.7 billion as of December 31, 2021, compared to $16.8 billion as of December 31, 2020[85] - The total capital-to-debt ratio improved from 3.5 times as of December 31, 2020, to 3.2 times as of December 31, 2021[85] Fleet and Aircraft - The fleet consisted of 521 aircraft, with an average remaining lease term of 8.3 years and a utilization rate of 98.5%[13] - A total of 52 aircraft were received in 2021, and 26 aircraft were sold, including 23 from the owned fleet[13] - The fleet size increased to 417 aircraft, leased to 86 airlines across 38 countries and regions, with 64% of the fleet leased to airlines in Belt and Road Initiative countries[18] - The company's fleet net book value reached a historical high of $19.6 billion by the end of 2021[19] - The average age of the owned fleet was 3.9 years, making it one of the youngest in the aircraft leasing industry[23] Dividends - The board proposed a final dividend of $0.1733 per share, bringing the total dividend for the fiscal year to $0.2831 per share[6] - The company maintained a dividend policy of distributing no more than 35% of annual net profit, proposing a final dividend of $0.1733 per share, totaling $0.2831 per share for 2021[18] - The total dividend for the year ended December 31, 2021, will amount to $0.2831 per share, distributing a total of approximately $196.5 million to shareholders[162] Cash Flow and Financing - Operating cash flow (excluding interest) remained stable at $1.3 billion[6] - The average debt cost for the company in 2021 was 2.9%, benefiting from a strong investment-grade credit rating (Fitch and S&P both rated A-) and diversified debt financing sources[25] - The company invested $2.1 billion in new aircraft purchases and repaid $1.9 billion in debt during 2021[23] - The amount of cash and cash equivalents as of December 31, 2021, was $485 million, with an additional $5.6 billion in undrawn committed loan facilities[84] Governance and Management - The management team includes Robert James Martin as CEO, who has over 34 years of experience in the aircraft and leasing business[99] - The company has established a clear governance framework to manage daily operations, including several management committees led by senior executives[150] - The board consists of five non-executive directors, four independent non-executive directors, and two executive directors[122] - The company has adopted a board diversity policy, considering factors such as gender, age, cultural background, and professional experience in board member appointments[123] - The board has a clear division of responsibilities between itself and the management team, with the board overseeing strategic leadership and management executing approved strategies[120] Risk Management - The company emphasizes the importance of risk management and internal controls as part of its governance strategy[120] - The company has a risk management committee that continuously reviews risk factors affecting the balance sheet, including asset and credit risks[150] - The internal audit department conducts independent reviews of major risk areas and monitors compliance with accounting, financial, and operational procedures[139] Market and Strategic Outlook - The company anticipates a gradual strengthening of recovery trends in 2022 as vaccination efforts continue[54] - The aviation leasing market remains competitive, with challenges in expanding the asset base due to new entrants[53] - The company is exploring partnerships with other firms to enhance its product distribution channels[103] Charitable Contributions - The company donated over $50,000 for charitable purposes during the year ended December 31, 2021[167]

Financial Performance - Operating revenue and other income increased by 11% to $1.035 billion compared to $930 million in the same period last year[4]. - Net profit after tax rose from $321 million in the first half of 2019 to $323 million in the first half of 2020[5]. - Earnings per share increased to $0.47 from $0.46 year-on-year[5]. - The company reported a net profit of $323 million for the first half of 2020, with earnings per share increasing compared to the same period last year[33]. - Total operating and other income increased by 11.2% to $1.035 billion, up from $930.43 million in the first half of 2019, primarily driven by increased rental income from the owned aircraft portfolio[39]. - Rental income for the first half of 2020 was $888 million, a 6.7% increase from $832.48 million in the first half of 2019, attributed to an increase in the number of operating leased aircraft from 314 to 328[40]. - The net gain from aircraft sales was $25.74 million, up 16.5% from $22.1 million in the same period last year, with five aircraft sold in the first half of 2020 compared to nine in the previous year[42]. - The company generated positive operating cash flow of $555 million for the first half of 2020, down from $629 million in the same period of 2019[33]. - The company reported a pre-tax profit of $353,716 thousand, compared to $351,581 thousand in the previous year, showing a marginal increase of about 0.6%[114]. Assets and Liabilities - Total assets as of June 30, 2020, amounted to $22.619 billion, a 14% increase from December 31, 2019[5]. - Total assets increased to $22,618,699 thousand as of June 30, 2020, compared to $19,764,428 thousand at the end of 2019, representing a growth of approximately 9.7%[116]. - The company reported a net asset value as of December 31, 2019, of $1.819386 billion[1]. - Loans and borrowings increased by 19.2% to $15.87 billion as of June 30, 2020, to fund increased capital expenditures[62]. - Total liabilities increased to $17,977,024 thousand from $15,183,514 thousand, reflecting a growth of around 18.5%[117]. - The total amount of loans and borrowings due within one year was $1.701 billion as of June 30, 2020, compared to $1.780 billion as of December 31, 2019, showing a decrease of about 4.4%[161]. - The company reported a significant increase in derivative financial liabilities, rising from $222 million as of December 31, 2019, to $315 million as of June 30, 2020[63]. Liquidity and Capital Expenditures - The company maintained strong liquidity of $4 billion, including cash and cash equivalents of $398 million and undrawn committed credit facilities of $3.6 billion[4]. - The company has a capital expenditure commitment of $9.4 billion, with expected investments close to $6 billion for 2020[34]. - The company has projected cash outflows for aircraft capital expenditures totaling $9.4 billion, with $1.9 billion expected in the second half of 2020[76]. - As of June 30, 2020, cash and cash equivalents stood at $398 million, along with $3.6 billion in undrawn revolving credit facilities, indicating sufficient liquidity[69]. Dividend and Shareholder Information - The company declared an interim dividend of $0.1398 per share, representing 30% of the net profit after tax for the first half of 2020[4]. - The interim dividend declared is $0.1398 per share, representing 30% of the net profit for the first half of 2020, consistent with previous years' dividend payout ratios[33]. - The company’s dividend policy allows for a maximum distribution of 35% of the after-tax net profit for the full financial year[81]. - The company declared an interim dividend of $0.1398 per share for the period ending June 30, 2020, totaling $0.970 million, which is an increase from the previous year's interim dividend of $0.1388 per share[183]. Operational Highlights - The fleet consisted of 571 aircraft, including 334 owned aircraft with an average age of 3.5 years and an average remaining lease term of 8.5 years[6]. - 23 aircraft were delivered in the first half of 2020, with 76 lease commitments signed, all of which have confirmed airline customers for deliveries planned before 2023[6]. - The utilization rate of owned aircraft was 99.8%, with a cash collection rate of 88.8% from airline customers in the first half of 2020[6]. - The company has restructured its order book, committing to purchase an additional 86 aircraft and reorganizing its Boeing 737 MAX orders, with a total of 197 aircraft planned for delivery by December 31, 2024[6]. Financial Expenses and Impairments - Total costs and expenses rose by 17.7% to $681.32 million, compared to $578.49 million in the first half of 2019, primarily due to increased depreciation, impairment of aircraft, and financial asset impairment losses[45]. - Financial expenses increased by 3.4% to $219.84 million, up from $212.57 million, as total debt rose from $13.1 billion to $16 billion, although the average debt cost decreased from 3.6% to 3.2%[48]. - Financial asset impairment losses surged to $0.47 million in the first half of 2020, compared to $0.04 million in the same period of 2019, attributed to financial difficulties faced by lessees due to the COVID-19 pandemic[50]. - The company experienced a significant increase in financial asset impairment losses, which rose to $46,677 thousand from $3,844 thousand, representing a dramatic increase of 1,116.5%[120]. Corporate Governance and Compliance - The company has fully complied with all provisions of the corporate governance code during the six-month period ending June 30, 2020[99]. - The company’s audit committee consists of three independent non-executive directors and two non-executive directors, ensuring oversight of financial reporting and internal control[98]. - The company’s board of directors includes a mix of executive and independent non-executive members, ensuring diverse governance[106]. Employee Compensation and Incentives - Personnel expenses for the first half of 2020 were $0.45 million, a 21.4% increase from $0.37 million in the same period of 2019, primarily due to adjustments in deferred bonuses and stock-based compensation[49]. - Total compensation for directors and key executives amounted to $4.613 million, a decrease from $5.995 million in the previous period[200]. - The company granted a total of 1,755,376 restricted stock units, representing approximately 0.22% of the total issued share capital[93]. - The company granted 616,243 restricted stock units to directors and 915,641 to key executives, compared to 457,353 and 643,571 units respectively in the previous year[200].

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]