Aircraft lessors
Aircraft lessors own around half of the world’s airline fleet. These profiles track each lessor’s own published results: lease revenue, profit, balance sheet, leverage and fleet, with the company’s own definitions kept.
Company profiles
AerCap
9M 2026 net income US$2,493m. At September end: 1,440 owned aircraft, 97 managed aircraft and 347 aircraft purchase commitments.
BOC Aviation
Q3 operating update: 812 aircraft and engines owned, managed and on order; 89 airline customers across 45 countries and regions.
SMBC Aviation Capital
FY to March 2026 profit before tax US$707m; audited total assets US$25,543m. Owned and serviced fleets are shown separately.
Avolon
September 2026 portfolio: 1,092 aircraft owned, managed and committed, serving 138 airlines in 62 countries.
CDB Aviation
June 2026: 315 owned aircraft, 7 engines and 166 committed aircraft, with the owned fleet now broken down by type.
How to compare aircraft lessors
Fleet size alone does not show leasing quality. Read the figures in three steps.
Guide · reporting periods and company definitions remain important
- Separate the fleet scopes
- Owned aircraft support rental earnings and balance-sheet values. Managed aircraft belong to other owners. Commitments are future purchases, not aircraft currently earning rent.
- Read age alongside lease term
- A young fleet and a long remaining lease term describe different things. Check whether averages use aircraft counts or net book value; the weighting can change the comparison.
- Connect earnings to funding
- Review lease income, asset-sale gains and financing costs together. Gross debt/equity and net debt/equity are different measures, and company-adjusted ratios need their own definitions.
Sources: AerCap reporting definitions · SMBC annual report.
At a glance
Latest full financial year for each company, in its own currency and on its own definitions. Read across a row, not down a column: measures differ between companies and are labelled.
| Lessor | Latest full year | Revenue | Profit (measure) | Total assets | Leverage | Owned fleet · on order |
|---|---|---|---|---|---|---|
| AerCap | 2025 · 31 Dec · US$ | 8,517m (revenues and other income) | 3,751m (net income) | 71,672m | 2.11x adjusted debt/equity | 3,500 owned, managed and on order |
| BOC Aviation | 2025 · 31 Dec · US$ | 2,619m (revenues and other income) | 787m (net profit after tax); 746m underlying | 26.3bn | 2.5x gross debt to equity | 462 owned · 337 on order |
| SMBC Aviation Capital | FY to 31 Mar 2026 · US$ | 1,973m (lease revenue) | 707m (profit before tax); 677m excl. Russia settlements | 25,543m (31 Mar 2026) | Not published in the release | 493 owned · 430 on order |
| Avolon | 2025 · 31 Dec · US$ | 3,000m (total revenue); 2,751m lease revenue | 591m (net income) | 34,418m | 2.4x net debt to equity | 1,132 owned, managed and committed (500 committed) |
| CDB Aviation | 2025 · 31 Dec · RMB (parent’s segment) | 11,403m (segment revenue and other income) | 1,755m (segment profit before tax) | 121,462m (segment assets) | Not published | 315 owned · 166 committed (June 2026) |
Source and method
Lessors report in different currencies, financial years and scopes (group, subsidiary or a parent’s leasing segment), and several publish profit measures that exclude Russia-related insurance recoveries. Each figure keeps the company’s own label; nothing is converted or annualised. Each profile lists its primary sources.
Next reporting dates for these companies are in the earnings calendar. Other industry sections: engine makers, MRO providers and aircraft manufacturers.
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