BOC Aviation buys record 80 planes from Boeing

While China’s own plane manufacturing industry struggles to stay aloft, its leasing companies are buying foreign aircraft en masse: hot on the heels of SMBC Aviation’s order of 115 Airbus jets, Bank of China’s (601988.SSE) leasing arm, BOC Aviation, has placed an order for 80 Boeing (BA.N.NYSE) passenger planes valued at a list price of $8.8 billion, Reuters reports. The purchases come during a boom for aviation financing, as airlines seeking lean balance sheets turn to lessors to upgrade their fleets to fuel-efficient aircraft. As of June 30 BOC Aviation already had a fleet of 251 aircraft delivered.