BOC Aviation posts 22% profit rise

HONG KONG • Aircraft lessor BOC Aviation reported a 22 per cent jump to record full-year net profit yesterday, supported by growth in global air travel.

BOC Aviation's net profit rose to US$418 million (S$581 million) in the year ended Dec 31 on a 9 per cent increase in total revenue and other income to US$1.19 billion.

Signalling an upbeat industry outlook, the Singapore-headquartered firm, which has a portfolio of 284 aircraft, expects to take record deliveries of over 75 aircraft this year.

REUTERS

Room for '2 more Fed hikes this year'

WASHINGTON • The US Federal Reserve has room for "two more rate increases this year", as the economy seems "reasonably close" to full employment and is likely to gather pace, ex-Fed Bank of Atlanta president Dennis Lockhart said.

The Fed on March 15 raised its target for the benchmark federal funds rate by a quarter point to 0.75 per cent to 1 per cent, releasing forecasts that two more hikes are expected this year.

Mr Lockhart, who retired in February, said the Fed is not behind the curve, and he would have supported the rate increase in March.

BLOOMBERG