5 days ago
Emirates buys four Airbus A380s it leased from Nimrod Air Three for $180mn
Dubai's Emirates has purchased four Airbus A380-861 aircraft that it has been leasing from Doric Nimrod Air Three Limited, a Guernsey-domiciled investment company.
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.
