DORIC Lease Corp signs landmark agreement for 20 A380s
A380’s strong asset value and market potential recognised by leading lessor
Blagnac, 17 June 2013
Doric Lease Corp has signed a Memorandum of Understanding (MoU) for the purchase of 20 A380s at the 50th Le Bourget Airshow. The agreement was signed today by Mark Lapidus, CEO of Doric Lease Corp and John Leahy, Airbus Chief Operating Officer, Customers.
With this investment, Doric will offer a tailored A380 leasing solution and will make the aircraft even more accessible to both new and existing A380 operators around the world who prefer to opt for the flexibility of an operating lease. Doric already has significant experience with the A380, ranking as the third largest wide-body lessor worldwide by value, and the world’s largest asset manager of leased A380s. Doric has a six billion US$ aircraft portfolio under management, including 18 A380s acquired through sale-leaseback arrangements.
“The A380 offers us a unique opportunity to continue growing Doric’s aviation platform by establishing ourselves as a lessor with a forward-order portfolio of 20 A380s to market with existing and new customers worldwide,” said Mark Lapidus, CEO of Doric Lease Corp. “We will be able to provide turn-key A380 ownership solutions to airlines, allowing them to benefit from operating this fantastic aircraft. The A380 offers airlines a great opportunity to provide a superior product and travel experience while strengthening revenue generation. We are delighted to be part of the long term success of the A380.”
“The A380 is moving into a new chapter, with more and more airlines around the world enjoying the benefits of its unrivalled passenger appeal and powerful revenue and growth generating capability. Airlines are waking up to the fact that if they want to stay ahead of the game, the only way is with the A380 in their fleets,” said John Leahy, Airbus Chief Operating Officer, Customers. “We are delighted that with Doric, airlines around the world will now have more flexibility in bringing the A380 into their operations while being equipped to capture the growth opportunities we are seeing as the global economy recovers.”
Since first entering service in 2007, the A380 has joined the fleets of nine world class carriers. The aircraft is capable of flying 8,500 nautical miles or 15,700 kilometres non-stop, carrying more people at lower cost and with less impact on the environment. The spacious, quiet cabin and smooth ride have made the A380 a firm favourite with both airlines and passengers, resulting in higher load factors wherever it flies.
The total A380 fleet has accumulated over 920,000 flight hours in close to 110,000 commercial flights. To date 40 million passengers have already enjoyed the unique experience of flying on board an A380. Every six minutes, an A380 either takes off or lands at one of the 30 airports where it operates today and the network is constantly growing.