(Bloomberg) -- BOC Aviation Ltd. plans to grow its plane fleet to 1,000 by 2030, Chief Executive Officer Steven Townend told local paper The Business Times.
The aircraft leasing firm wants to increase its current fleet of 680 to “have the portfolio size and diversity” its investment-grade credit ratings and to do “bigger deals with the bigger airlines,” according to the report.
Townend sees planes not being built fast enough to meet demand as the biggest challenge for the aviation industry, the report said. This supply gap won’t close until around 2028, Townend told BT, which will sustain lease rates at the current levels for at least the next two or three years, he said.
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