|
Doric Nimrod Air Two Ltd on Wednesday announced plans to liquidate and return capital to investors following the sale of its remaining aircraft fleet to Emirates airline. DNA2 shares were up 12% to 139.01 pence each in London on Wednesday afternoon. The Guernsey-based company aims to generate returns by acquiring, leasing, and then selling aircraft. From October 2011 onwards, DNA2 acquired 7 Airbus A380-861 aircraft which were subsequently leased to Emirates, the national airline owned by The Investment Corporation of Dubai, for twelve years. In 2023, the company sold the first 2 of these aircraft to Emirates for a total of £59.2 million following the end of their respective leases. On Wednesday, DNA2 said it has now reached an agreement with Emirates to sell the remaining 5 aircraft once their leases expire from October 1 to November 30. Each aircraft will be sold for £30.7 million for a combined total of £153.5 million. ‘The directors intend to distribute the sale proceeds to shareholders together with the remaining cash holdings, net of any liquidation and other costs and assuming successful completion and no further unexpected costs or events, as soon as possible following the last lease end date and subject to the relevant solvency tests, laws and regulations,’ DNA2 said. Payment to shareholders is expected in the first quarter of 2025. Copyright 2024 Alliance News Ltd. All Rights Reserved.
|
