Emirates is taking ownership of four Airbus A380s it has leased from investment company Doric Nimrod Air Three Limited since 2013.
Doric Nimrod Air Three, which is based in the British Crown Dependency of Guernsey, said Emirates will pay a total of £131.9 million, or about $180 million, for the aircraft and take possession of them between August and November of this year. All four of the A380s were leased to Emirates for a period of 12 years, and their titles will transfer on the exact date their lease ends.
Emirates, one of the two flag carriers of the United Arab Emirates, operates a mix of Airbus and Boeing aircraft. It currently owns 116 A380s, making it the largest operator of the type in the world.
Doric Nimrod Air Three is a joint fund formed by Nimrod Capital and Doric GmbH. It describes itself as generating returns for investors by acquiring, leasing, and selling aircraft, in this case the four A380s. Two similar companies, Doric Nimrod Air Two and Doric Nimrod Air One, also leased and then sold A380s to Emirates.
With the sale of the aircraft, Doric Nimrod Air Three intends to pay proceeds to investors and then dissolve itself by 2026.
