BOC Aviation, having swooped into the sale-and-leaseback market in December, has readied more than $1 billion in capital from its Chinese parent to buy additional aircraft from airlines late this year. Good market timing as well as the backing of the Bank of China has given the lessor a rare ability to execute such deals amid the financial crisis, expanding its business as others struggle.

Beijing is shoveling yet more money into unprofitable China Eastern, with a 2 billion yuan (US$290 million) allocation to the airline’s parent company. The government previously gave the 7 billion yuan to the carrier, which says it needs the latest wad of money to reduce its financial strain. The total allocated is less than the 13.9 billion yuan China Eastern lost last year, but trading conditions may be better this year.

Australian ship builders Forgacs and NQEA are the preferred suppliers for structural blocks for the three Aegis air-defense destroyers of the Hobart-class for the Royal Australian Navy. The companies will build 70 percent of the modules, each fitted out with wiring and equipment and weighing about 200 metric tons. Forgacs is based in Newcastle, with NQEA in Cairns.