BOC AVIATION(HK:02588) 智通财经网·2025-08-21 09:21Core Insights - The company reported total operating and other income of $1.242 billion for the six months ending June 30, 2025, representing a year-on-year increase of 6% [1] - Net profit decreased by 26% to $342 million, with basic earnings per share at $0.49 [1] - The board approved an interim dividend of $0.1476 per share, consistent with the previous year's payout ratio of 30% of net profit [1] Revenue Breakdown - Operating lease income rose to $937 million, accounting for over 75% of total revenue, driven by increased aircraft deliveries and improved timing and composition of aircraft sales [1] - The lease factor increased to 10.3% from 9.8% in the first half of 2024, while net lease yield improved from 7.0% to 7.5% [1] - Financing lease income grew by 36% to $130 million, with an additional 5 aircraft added to the fleet in the first half of 2025, following 25 new aircraft in 2024 [1] Profitability and Fees - Core leasing rental contributions increased by 24% to $342 million, with a profit margin of 32%, indicating improved performance in total leasing income [2] - Other interest and fee income surged by 80% to $65 million, attributed to significant growth in pre-delivery payment financing fees [2] - Recent agreements with Avianca and Gulf Air for a total of 18 aircraft are expected to further enhance fee contributions [2]