HK-listed BOC Aviation loses most in nearly 4 months on weak forecast

BOC Aviation

04/07/2022 06:21

** Shares of aircraft leasing company BOC Aviation Ltd
 2588.HK  fall 5.8% to HK$62.10, their biggest intraday pct drop
since March 11
    ** Stock sinks to the lowest since June 23, on track for a
third consecutive session of losses
    ** Co expects to post up to $330 mln net loss after tax for
a six-month period ended June, versus a $254 mln profit in a
year-ago period, amid write-down of aircraft as it terminated
leases of 18 owned aircraft with Russian airlines in compliance
with sanctions (https://bit.ly/3R2O3sh)
 
    ** Co says 17 of the 18 aircraft remain in Russia as at
end-June and the company believes it is unlikely to be able to
recover those aircraft from Russia in the foreseeable future
    ** The Hang Seng Commerce & Industry Index  .HSNC  gains
0.6%, while the Hang Seng Composite Index  .HSCI  eases 0.5% and
the benchmark Hang Seng Index  .HSI  slips 0.3%
    ** As of last close, stock up 15.5% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))