Emirates (EK, Dubai International) has agreed to buy five A380-800s currently dry-leased from Doric Asset Finance at the end of their leases in the fourth quarter of 2024 for a total sum of USD200 million.
The lessor said in a London Stock Exchange that the aircraft - A6-EDX (msn 105), A6-EDY (msn 106), A6-EDZ (msn 107), A6-EEB (msn 109), and A6-EEC (msn 110) - will exit their leases and be sold to the carrier between October 1 and November 30, 2024.
They were all delivered in 2012 and leased for 12 years to the type's biggest operator. The transaction follows two other A380s, A6-EDP (msn 77) and A6-EDT (msn 90) that were sold to Emirates in 2023.
All five aircraft are owned through a Guernsey-based and LSE-traded SPV, Doric Nimrod Air Two Limited. Because the SPV has no other assets, it will be liquidated once the sale of the A380s is completed. The lessor said it expected to distribute the proceeds from the sale of the A380s to shareholders in 2025, net of any liquidation costs.
The ch-aviation fleets ownership module shows that following the transaction, Doric will continue to own six A380s, five of which are dry-leased to Emirates and one is in storage following its retirement by Hi Fly Malta (and is likely to join the fleet of start-up Global Airlines).
Emirates currently operates 118 A380s, of which it owns 63.
