Doric Nimrod Air Two finalizes $200 million A380 sale to Emirates
Doric Nimrod Air Two Ltd (DNA2), a Guernsey-based aircraft leasing company, has announced the sale of its last five Airbus A380 aircraft to Emirates for approximately $200 million. The sale, set to occur between October and November 2024, marks the end of DNA2’s leasing operations, with plans for the company to liquidate afterward.
These aircraft, originally acquired in 2011, have been leased to Emirates for 12 years under a deal that contributed significantly to DNA2’s portfolio. The sale follows the earlier divestment of two other A380s in 2023, which fetched $76 million. After the sale of the final five aircraft, DNA2 intends to distribute the proceeds to its shareholders, with distributions expected by the first quarter of 2025.
Emirates remains one of the few airlines to continue investing in the A380, despite many carriers phasing out the superjumbo in favor of more fuel-efficient aircraft. This acquisition aligns with Emirates’ strategy to maintain a large A380 fleet, which is integral to its long-haul operations. The airline’s commitment to the A380 is underscored by its ongoing refurbishment programs, aimed at enhancing passenger experience on these flagship aircraft.
This transaction underscores the evolving dynamics in the aviation leasing market, particularly for the A380, which has seen declining demand amid the industry’s shift towards smaller, more economical aircraft. For DNA2, the sale represents the culmination of its business model, which was specifically built around the A380, marking a significant chapter in both the company’s history and that of the aircraft leasing market.
