Aviation News Online

Veling purchases and leases an A380 to Emirates

Veling Ltd, the niche aircraft leasing company headquartered in Mauritius, has purchased one new Airbus A380 and has leased it back to Emirates Airline. The aircraft delivery took place on Friday, 12th of May, at the Airbus Delivery Centre in Hamburg, Germany. The aircraft was immediately leased to Emirates and will become the airline’s 95th A380 to enter service, further enhancing its position as the world’s largest A380 operator.

“It is indeed an honour to partner with Emirates Airline and close a lease agreement for our first A380. For our team at Veling, this deal is a testimonial of our commitment and value propositions, which we have adhered to since our inception in 2002. Veling has grown into a valuable partner for airlines in a highly competitive international aircraft leasing market,” said Uday Nayak and Nirvan Veerasamy, co-founders of Veling. “This acquisition is not only a milestone for Veling, but it is also gratifying to have the confidence of Emirates in our capability to close such a complex transaction in the required timescale.”

“Emirates’ long-standing financing strategy and our solid reputation with global financial institutions give us the ability to access international funding, and garner support in the global market to grow our fleet of wide-bodied aircraft, which is a cornerstone of our growth strategy. Our partnership with Veling has spanned over a decade and we are pleased to close this lease agreement with them for our 95th A380,” commented Nirmal Govindadas, Senior Vice President Corporate Treasury for Emirates.

The A380 is the world’s largest commercial aircraft, completing more than 300 flights per day. It has operated in over 120 airports and currently serves almost 60 destinations worldwide. The Emirates A380 flies to 47 destinations around the world. Currently, an A380 lands or takes-off around the world every two minutes.

Date: May 16, 2017

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