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Emirates will buy 2 more A380’s for $35 million each

Emirates is set to purchase two more leased Airbus A380s before the end of the year as it slowly acquires its A380s from lessors. The sale price for each aircraft is £28.9 million ($35 million), and they are expected to be sold in October and December of this year. Emirates’ intention to fly these jets into the 2040s suggests that it will continue to purchase A380s.

Emirates is set to purchase two more of its leased Airbus A380s later this year. According to a London Stock Exchange filing from the aircraft’s current owner, both A6-EDP and A6-EDT will be purchased by the UAE giant before the end of the year. Last year, the airline purchased another one of its aircraft from the same lessor.

Many airlines are trying to sell unused Airbus A380s with little-to-no success. However, one airline is in the market to buy Airbus A380s, but only the ones that it already operates. Dubai-based Emirates is slowly purchasing its A380s from some of its lessors.

The sale proceeds to be paid by Emirates to the company are £28.9 million for each asset, equivalent to $35 million for the two assets combined. An Emirates spokesperson confirmed the transaction but declined to comment on the purchase.

Both of the aircraft that Emirates is about to purchase are currently in storage at Dubai World Central Airport (DWC), as they have not flown for the past three years. It may seem odd to be buying the aircraft when they are not in use; however, Emirates President Sir Tim Clark has been very vocal about the future of the Airbus A380 at Emirates. This suggests that these aircraft will likely return to the skies, perhaps as other A380s are retired or to bolster the existing Airbus A380 fleet.

The latest Airbus A380 purchase could indicate that Emirates may buy more of these jets from lessors. Doric Nimrod Air Two, the current lessor, said it still owns five more Airbus A380s leased to Emirates. The leases for these five aircraft will expire between October 1st and November 24th next year, at which point Emirates would also have the option to purchase them. Emirates plans to fly its Airbus A380s into the 2040s, and buying more jets as their leases end seems like a natural option for the UAE carrier.

According to data from ch-aviation, Doric Asset Finance currently owns 15 of Emirates’ Airbus A380s through funds such as Doric Nimrod Air Two. The rest of Emirates’ A380 fleet is owned as follows.

Owner Number of A380s
Aergo Capital 7
Amedeo 6
Doric Asset Finance 15
Emirates 60
Hannover Leasing 2
Investec Aviation Finance 5
Nomura Babcock & Brown 6
Veling 3
Not Listed 15

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SOURCE: https://simpleflying.com

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