BOC Aviation (Ireland) Ltd recorded pre-tax profits of $243.3m for 2024, representing a 21pc decrease from the previous fiscal year. The firm received a $158m insurance payment concerning aircraft detained in Russia, which was a key driver of last year’s profits.
Total revenues for 2024 fell by 7pc to $660.4m, impacted by decreased insurance settlements linked to Russian operations. Directors reported an increase in costs, with professional fees rising by 59pc due to ongoing claims related to detained aircraft. The company maintained its assets at $5.39bn as of December 31, 2024.
BOC shared in a written statement: “The company is continuing to pursue insurance claims in respect of aircraft currently or formerly detained in Russia.”
