Emirates buys six Airbus A380s from Qatar’s Lesha

Emirates is buying six Airbus A380s it currently leases from Qatar’s Lesha Bank. The bank is selling the superjumbos through its Lesha Aviation Fund, according to a press release. Ownership of two has already transferred, and the other four will follow in stages as their leases expire, the last by April 2028. The transaction value wasn’t disclosed.

Lesha is still a net buyer of aircraft: Lesha agreed to acquire aircraft lessor Amedeo Air Four Plus for around GBP 190 mn earlier this year. Amedeo owns 12 widebody aircraft — including six A380s, two Boeing 777-300ERs, and four Airbus A350-900s.

Emirates is keeping its older widebodies flying longer

Emirates has had to extend the life of its existing widebody fleet as Boeing 777X delays continue. Emirates now expects only three to five 777Xs in late 2027, Emirates President Tim Clark was quoted as saying by Reuters at a media event. Another 10 could potentially arrive in 2028, which would bring cumulative deliveries to just 15 against a total order of 270 aircraft.

IN CONTEXT- That’s later than the original timeline anticipated. In July, the airline had hoped to secure its first 777-9s in 2Q 2027. It's now in talks with Boeing to raise next year’s number, though Boeing is “fairly vague” on timing, Clark added. The 35 smaller Boeing 787s it has on order could be used to plug the gap if the timeline extends further, he said.

More ways to fund

The airline is also exploring other ways to finance its fleet: Emirates secured a 12-year shariah-compliant French leasing arrangement with Dubai Islamic Bank and Natixis CIB to finance two Airbus A350-900 aircraft this year, adding another financing structure to its fleet investment strategy, it said in a press release earlier this week.

An industry-wide issue

There’s already a distinct market shortage. Airbus and Boeing’s combined order backlogs stretch beyond 11 years, with delivery delays pushing leasing rates higher. That’s brought more interest and focus to in-service fleets to plug that gap. Dubai Aerospace Enterprise acquired Macquarie AirFinance for USD 9 bn, and Adia is acquiring a stake in a USD 1.4 bn aircraft portfolio leased to international airlines.