Emirates has agreed to buy six Airbus A380 superjumbos it has been flying on lease from an aviation fund run by Qatar’s Lesha Bank, taking full ownership of jets that sit at the heart of its long-haul network.
The Qatar-listed lender said the sale was made through an investment structure on behalf of the Lesha Aviation Fund. Two of the aircraft have already been handed over to the Dubai carrier. The remaining four will follow in stages through April 2028, as each lease comes to an end.
The deal is valued at about $250 million.
Lesha Bank said the agreement secures Emirates’ long-term ownership of a core part of its widebody fleet, and supports the airline’s plans to keep growing its network from Dubai.
“Completing the sale of the two aircraft marks an important milestone, and the phased transfer of the remaining four underscores both the strength of our relationship with the airline and our continued focus on delivering well-structured, value-accretive transactions for our investors,” said Jonathan Skirrow, co-chief executive of Lesha Aviation Services.
Why the superjumbo still matters to Dubai
Emirates is the world’s largest operator of the A380, the double-decker jet that Airbus stopped building in 2021. With no new superjumbos coming off the line, owning the aircraft outright gives the airline more control over how long it keeps them flying.
The airline has been refitting older A380s with new cabins under a multi-year retrofit programme, and has said it expects to fly the type well into the 2030s.
