Doric Asset Management took delivery of its thirteenth A380 under management. The aircraft with the manufacturer’s serial number (MSN) 103 was acquired by the German closed-end fund SKY CLOUD IV (a GmbH & Co KG type special purpose vehicle) at 18:30 CET on 29th August 2012 in Hamburg. The Airbus A380 is on lease to the Dubai-based carrier Emirates for a period of 12 years.
The purchase price of the aircraft was $234 million. The long-term loan of $145 million was provided by a banking consortium led by NordLB.
Norton Rose acted as legal advisors on the leasing transaction. The lending banks were advised by Vedder Price.
The current aircraft portfolio under management of Doric comprises 30 aircraft valued at $4.6 billion.