Virgin flies Doric Aircraft for a Further 18 Months

Dino D'Amore
By Dino D'Amore February 2, 2016 21:06

Virgin flies Doric Aircraft for a Further 18 Months

Doric issued its first aircraft fund in 2006. The lease agreement with Virgin for this aircraft has been extended by 18 months until July 2018. The initial term was for just over 10 years.

Since delivery in 2006 until the end of 2015, the Airbus A340 with the registration number G-VFIZ had completed some 5,077 flights, racking up 44,968 hours in the air. The average flight duration was about 9 hours.

The aircraft is used on routes between London and Los Angeles, New York and San Francisco, among other destinations.

The annual distributions to investors have stood at 10 percent for the past few years. This is two percentage points higher than origin-ally forecast.

Dino D'Amore
By Dino D'Amore February 2, 2016 21:06