BOC Aviation is a top tier global aircraft lessor with industry leading financial metrics, rated A- by both S&P Global Ratings and Fitch Ratings. We enjoy strong and committed support from our major shareholder, Bank of China. BOC Aviation is listed on the Hong Kong Stock Exchange (HKEx code: 2588) and has its headquarters in Singapore with offices in Dublin, London, New York and Tianjin.
Our core business model is focused on purchasing new, fuel-efficient, in-demand aircraft at competitive prices directly from aircraft manufacturers, financing those aircraft purchases efficiently. We place our aircraft on long-term operating leases with a globally diversified customer base and sell our aircraft to maintain a young fleet, to mitigate risks in our aircraft portfolio and to generate gains on sale, as well as reinvesting the sale proceeds in new aircraft investments. We provide comprehensive aircraft remarketing and technical management services to airlines, banks and other investors and have introduced finance leases for aircraft and engines. Our portfolio of owned aircraft has an average age of less than five years, making it one of the youngest in the aircraft operating lease industry. We have long-term contracted cash flows, with a weighted average remaining lease term on the owned portfolio of around eight years. Our aircraft are mobile and can be redeployed throughout the world and have long economic lives.
The scale of our business and our investment grade credit ratings make us an attractive counterparty to aircraft manufacturers and airline customers, which further reinforces our competitiveness. Our specialised aviation industry knowledge, our relationships with airline customers, aircraft manufacturers and other key aviation industry participants, together with the long-term experience of our senior management team have enabled us to deliver strong operational and financial results through multiple industry cycles, including 30 years of unbroken profitability.