Emirates recently purchased an Airbus A380 from the lessor Doric Nimrod Air One that had previously leased the aircraft to the airline. As per the lessors’ financial accounts, the aircraft was sold for $30.5 million. The aircraft is 14+ years old and has clocked more than 48,000 flying hours. Interestingly, Airbus’ average list price of a new A380 was $445.6 million in 2018.
“The operating lease is for an Airbus A380 aircraft. The term of the lease is for 12 years ending December 2022 and no extension option. The Company and Emirates have now reached agreement that at the lease end date, currently expected to be 16 December 2022, the Company will sell the Asset to Emirates. The sale proceeds to be paid by Emirates to the Company are £25.30 million,” the lessor reported in its half-year results published on December 15, 2022.
The lessor reported a rental income of $8,681,841 in the five months from April to September 2022, during which the aircraft was parked at Dubai World Central airport. Meanwhile, the asset depreciated by $4,240,746 during the same time period.
The aircraft took its last flight on March 24, 2020 from Tokyo Narita Airport to Dubai International Airport. It was then ferried to Dubai World Central on June 29, 2020, where it has remained since.