Thim Fatt Phang
There were few aviation success stories last year. BOC Aviation was one of them.
The global downturn hit everybody where it hurt -- in the chequebook. Some once-big names declared bankruptcy Japan Airlines this January and losses at others required major state-backed capital infusions China's big three. In total, the International Air Transport Association IATA estimated airlines globally lost $9.4 billion.
While the airline industry bled cash and aircraft financing from banks dried up, Singapore-based BOC Aviation...