Emirates buys four Airbus A380s it leased from Nimrod Air Three for $180mn
Nimrod Air Three informed the London Stock Exchange's Main Market that all four aircraft were leased for the past 12 years to Emirates, and it has now reached an agreement to sell its four assets in a deal worth US$180 million. This includes US$25 million for the purchase of the title, and US$20 million for the buyout of the return conditions.
Emirates is the largest operator of the A380s in the world, with 116 aircraft in service. This is nearly 46 per cent of the 254 A380s built by Airbus.
Last year, it had purchased five Airbus A380s from Doric Nimrod Air Two for US$200 million, following a purchase of two other A380s for US$35 million each from the same company earlier.
In a statement, Nimrod Air Three said it plans to liquidate following the sale of the aircraft to Emirates. It is anticipated that the process for liquidation will commence as soon as possible thereafter. It will make further announcements detailing final distribution amounts and timetable in due course.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
7 minutes ago
- Zawya
Amwaj Development celebrates 50% construction milestone at Starlight Park
DUBAI, UAE – Starlight Park, AMWAJ Development's flagship residential community in Meydan District 11, has officially reached the 50% construction milestone, marking a significant step forward in the company's mission to deliver high-quality living spaces ahead of schedule. This achievement reinforces the market's confidence in one of the UAE's fastest-growing real estate developers, just 15 months after its market entry. Having broken ground in April 2024, Starlight Park continues to surpass expectations. The first apartment has already been fully completed, setting a project record and validating AMWAJ's promise to deliver the full development by Q2 2026. This pace underscores the company's commitment to both operational excellence and customer trust. In a dual achievement previously celebrated, Starlight Park had successfully topped out across all four towers, with 100% of the superstructure now completed. Today, AMWAJ has swiftly advanced into interior finishing and MEP installations, keeping the project well ahead of schedule. 'Our consistent progress reflects the integrity and promise embedded in AMWAJ's leadership,' said Murad Saleh, CEO of AMWAJ Development. 'Starlight Park is a residential project that will defy expectations – a community built on trust, speed, and sustainability, and we're proud to set a new benchmark for delivery in the UAE market.' Sustainability remains at the core of AMWAJ's philosophy. In collaboration with its sister company, Green Gardenia Landscaping, AMWAJ is bringing to life a nature-inspired living environment that balances eco-conscious design with modern convenience, creating a development that is as green as it is groundbreaking. Starlight Park is a four-building, freehold residential development offering 172 thoughtfully designed apartments in Meydan's District 11. Available in one-, two-, and three-bedroom configurations, each home features premium finishes, built-in TV consoles, custom wall treatments in master bedrooms, and integrated cabinetry. Italian-brand appliances, including an ELBA gas oven and hob, microwave, dishwasher, fridge/freezer, and washer/dryer, come standard in every unit, alongside dedicated parking. Designed with resident wellbeing in mind, each building is equipped with a rooftop pool, fitness studio, rooftop cinema, indoor and outdoor children's play areas, yoga and boxing studios, padel tennis courts, EV charging stations, and a private lounge. As every milestone is reached, AMWAJ reaffirms its commitment to quality, speed, and community-centric design, strengthening its reputation as a reliable partner in shaping the future of Dubai's residential landscape. ABOUT AMWAJ DEVELOPMENT AMWAJ Development is a fast-growing real estate developer in the United Arab Emirates. Its founders and management team have over 27 years of international experience in Europe and the Middle East. AMWAJ Development focuses on the construction and sale of residential and commercial projects with a commitment to deliver luxurious, contemporary family-centric living spaces in Dubai's most popular neighbourhoods. AMWAJ Properties focuses on the development and sale of residential and commercial properties committed to delivering high-quality, green spaces and innovative real estate solution in Dubai. AMWAJ Living Solutions offers after-sales services to maintain and enhance the living experience through several bespoke services including interior design and apartment customisation. AMWAJ Facilities Management ensures the optimum operation and care for the community including building and facilities maintenance, hygiene, landscaping, security, and utilities management. AMWAJ Development's mission is to redefine Dubai's luxury mid-market residential segment by delivering innovative and eco-friendly communities that set new standards for living excellence. The company is committed to creating landmark projects that offer luxurious, contemporary residences with high-quality finishing and smart technologies. Through its developments, it aims to create a cosmopolitan community that thrives on community spirit and environmental friendliness, adding significant value to the living experience and the property for both residents and outsiders. Since 1997, its founders have been at the forefront of design and construction, having delivered residential and commercial properties across Europe and the Middle East. Its success and legacy are in the artistry of its craft to deliver unparalleled quality and innovation. As it steps into Dubai's growing real estate market, its journey continues and is marked by a dedication to shaping a future that respects the environment, offers meticulously designed living experiences, and enhances the overall communities where it develops.
Zawya
7 minutes ago
- Zawya
GE Aerospace CEO says company making 'real' progress in improving engine deliveries
GE Aerospace CEO Larry Culp said on Thursday the company's efforts to fix supply constraints are showing results and driving up jet engine deliveries. The comments came after the company reported a 45% jump in total engine deliveries in the second quarter from a year ago. Deliveries of LEAP engines, which power narrowbody jets of Airbus and Boeing, were up 38% from a year ago. "We are chasing a moving target. But I think those numbers ... suggest we're making real progress," Culp told Reuters in an interview. (Reporting by Rajesh Kumar Singh Editing by Mark Potter)
Zawya
7 minutes ago
- Zawya
Dubai land Department recognises 10 real estate firms surpassing Emiratisation goals under the ‘Dubai Real Estate Broker Programme'
Mohammed Ali Al Badwawi: 'We remain committed to expanding the programme and enhancing its impact in building a more balanced and sustainable real estate market.' Dubai, United Arab Emirates: In a move that reflects Dubai's commitment to promoting professional empowerment and the active participation of Emiratis in key economic sectors, Dubai Land Department (DLD), represented by the Real Estate Regulatory Agency, organised a special ceremony to honour the real estate brokerage firms most dedicated to hiring UAE nationals, as part of the 'Dubai Real Estate Broker Programme.' The ceremony was held on Thursday at Dubai Land Department's headquarters, in the presence of His Excellency Omar Hamad BuShehab, Director General of DLD, along with several CEOs and representatives from the real estate sector. 10 leading real estate brokerage firms were honoured during the ceremony in recognition of their pioneering role and active contribution in exceeding the programme's key Emiratisation targets. This achievement qualifies them for additional points that enhance their classification with DLD, reflecting a genuine commitment to advancing Emiratisation in the real estate sector and boosting the participation of national talent across its various fields. The list of honoured companies included Harbour Real Estate Broker, On Plan Real Estate, Dirham for Real Estate Brokerage, AlRuwad Real Estate, AKN Properties, Exp Real Estate, FAM Real Estate Broker, Real Estate Codes, PSI Real Estate, and D&B Properties. Mohammed Ali Al Badwawi, Acting CEO of the Real Estate Regulatory Agency (RERA), said: 'What we are witnessing today is a true example of a conscious partnership between the public and private sectors. As a result, each honoured company under the 'Dubai Real Estate Broker Programme' has successfully employed more than twenty Emirati men and women. The programme has exceeded its targets in a short period, thanks to the pivotal role of these companies, which have demonstrated that investing in Emirati talent is a strategic choice that reflects institutional maturity and long-term vision. We reaffirm our commitment to expanding this programme and enhancing its impact in building a more balanced and sustainable real estate market.' This achievement marks a significant milestone in the programme, led by Dubai Land Department, to open new career opportunities for Emiratis and prepare them to take on leadership roles within the real estate brokerage sector. The programme is built on an integrated system of training, qualification, and professional support, in close collaboration with private sector companies that serve as key partners in realising its objectives. This recognition embodies the principle of responsible partnership with real estate brokerage firms that believe Emiratisation is a strategic necessity for the future and promising prospects of the market. It reflects an ambitious vision aligned with the Dubai Real Estate Strategy 2033, by focusing on human capital development and ensuring market sustainability. It also supports the Dubai Social Agenda 33, which aims to achieve transformative progress in employment, skills development, and empowering every citizen's potential. In this context, Dubai Land Department continues to invite all real estate companies in Dubai to join the programme and contribute to this ambitious national initiative, which aims to build a more inclusive and sustainable work environment while providing quality opportunities for Emiratis in a vibrant and growing sector. Participating in the programme enhances institutional balance, strengthens a company's position in the market, and represents a genuine contribution to realising Dubai's vision of becoming the best city in the world to live and work.
