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Post by a380fanclub on Sept 11, 2014 17:08:30 GMT 1
The CAPA report doesn't answer my question, but my guess is that the EEY-deal is just a financial arrangement that has nothing to do with the Amedeo order for 20. If they continue financing the Emirates fleet like this, then the Amedeo order is just an empty bubble as it would give Airbus no extra frames to be build. So I have just mailed Amedeo if they would like to explain the deal...
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philidor
in service - 6 years
Posts: 8,950
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Post by philidor on Sept 12, 2014 0:53:34 GMT 1
a380fanclub, there is absolutely no mystery. Amedeo never ordered this airframe from Airbus. The aircraft was ordered by EK, long before Amedeo signed any A380 purchase contract with Airbus. Amedeo became the owner of this bird through a sale-and-lease-back agreement with EK, an established aircraft finance technique (= they bought the aircraft from EK, and leased her back to them). This has nothing to do with Amedeo's contract with Airbus.
The CAPA article quotes Mr Lapidus as saying that this is the first A380 acquired by an operating lessor "on its balance sheet". This highlights a difference with Doric's established practice of arranging the deals but not owning the aircraft themselves (Doric creates a special purpose company, managed but not owned by them, to buy and lease out each aircraft). Amedeo is taking much more financial risks than Doric.
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XWB
in service - 11 years
Posts: 16,115
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Post by XWB on Sept 12, 2014 8:26:33 GMT 1
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Post by peter on Sept 12, 2014 19:32:22 GMT 1
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philidor
in service - 6 years
Posts: 8,950
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Post by philidor on Sept 13, 2014 0:13:26 GMT 1
The statements from both companies actually do not countradict each other :
From Amedeo : "Amedeo is the asset manager of 4 x Airbus A380s leased to Emirates as part of DNA3, which was listed on the London Stock Exchange in July 2013."
From Doric : "The DNA3 asset management services were subcontracted to Doric at the inception of the transaction for its entire term due to a lack of experienced personnel within Amedeo. Amedeo simply acts as a pass-through."
So, it seems that the so-called DNA3 contract appointed Amedeo to perform asset management services, and Doric acted as a subcontractor (that's why they call Amedeo a pass-through). What Doric is challenging is Amedeo's experience in actually doing the job.
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Post by julytourist on Sept 13, 2014 1:10:05 GMT 1
XWB, can you explain why this MTOW is different to the norm?? Many thanks, JT
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