6th Apr 2023 18:23
Doric Nimrod Air Two Ltd - Guernsey-based closed-ended firm - Reports notification to wholly owned subsidiary Doric Nimrod Air Finance Alpha Ltd from Emirates. Says the airline is exercising an option to enable it to redeliver the Airbus A380-861 aircraft in the minimum condition equivalent to "half-life" together with a cash sum, as opposed to delivery in full-life condition. Adds should the aircraft be returned to Doric, Emirates will pay USD12 million, plus normal compensation arrangements, on or prior to the lease expiry date. The lease expiry date for the aircraft is November 30, 2024. Explains this does not preclude a lease extension or other options for the aircraft with Emirates.
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By Jeremy Cutler, Alliance News reporter
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