PHOTO
The Guernsey-domiciled close-ended fund Doric Nimrod Air Two Ltd. has agreed to sell five Airbus aircraft to the Dubai-based airline Emirates for a combined value of $200 million.
The A380-861 aircraft are currently leased to Emirates and will be sold once the lease terms end between 1 October 2024 and 30 November 2024, Doric Nimrod said in a statement on the London Stock Exchange on Wednesday.
Emirates, which flies a fleet of wide-bodied aircraft, will pay Nimrod £30.71 million ($40 million) per aircraft, the lessor said.
Doric Nimrod Air Two Ltd. is a investment company with its shares trading on the Specialist Fund Segment (SFS) of the London Stock Exchange's Main Market. The company buys, leases and then sells aircraft.
It acquired seven Airbus A380-861 aircraft from October 2011 onwards, which were each leased for 12 years to Emirates. Two aircraft were sold to Emirates in 2023 following the end of their respective leases.
(Reporting by Brinda Darasha; editing by Seban Scaria)
