Qatar's Lesha Bank Sells Six Airbus A380s to Emirates

The bank is selling the aircraft through an investment structure on behalf of its Lesha Aviation Fund. Two of the jets have already been delivered, and the remaining four will transfer in stages through April 2028 as their leases end, the bank said in a press release.

Lesha did not disclose a price. Zawya put the value of the sale at $250 million.

For Emirates, the world's largest operator of the A380, the purchase locks in long-term ownership of a central part of its widebody fleet, which the bank said supports the airline's premium long-haul offering and its capacity plans as it expands its network from Dubai. Airbus ended A380 production in 2021, so carriers that want to keep flying the type rely on existing airframes.

"We are pleased to have concluded this sale with Emirates, a long-standing and valued partner," said Jonathan Skirrow, co-chief executive of Lesha Aviation Services. The bank said the deal reflects its growing record in aviation and its ability to manage aircraft transitions for clients and investors.

The aircraft came to Lesha through its takeover earlier this year of Amedeo Air Four Plus, a London-listed vehicle that owned 12 widebody jets: six A380s and two Boeing 777-300ERs leased to Emirates, and four A350-900s leased to Thai Airways. FlightGlobal reported that the acquisition, made through the bank's Lesha Aviation Capital division, implied an enterprise value of £751 million.

Emirates has been buying back A380s from lessors as leases run out. In 2024 it agreed to buy five of the aircraft from Doric Nimrod Air Two for $200 million.

Lesha Bank is listed on the Qatar Stock Exchange under the ticker QFBQ and is regulated by the QFC Regulatory Authority.