Veling has purchased and leased back a new A380 to Emirates Airline. The aircraft delivery took place on July 28 at the Airbus Delivery Centre in Hamburg, Germany.
“Veling is keen to make the A380 the mainstay of its growing portfolio on competitive terms. Veling is privileged to have Emirates as a partner and looks forward to working with financial institutions globally to broaden the capital base that Emirates has access to,” said Uday Nayak and Nirvan Veerasamy, co-founders of Veling. “The aircraft was financed by Dubai Islamic Bank and The State Bank of Mauritius and is a testament of the quality of our team to deliver such complex solutions for one of most important clients.”
“Emirates has a long-standing relationship with Veling which began eight years ago with the sale and lease back of B777-200s. We are pleased to have partnered again with Veling for this second A380 transaction. Emirates’ fleet financing strategy is based on maintaining a well-diversified and evenly-spread portfolio utilizing a broad base of funding sources and financiers from around the world. This transaction demonstrates Emirates’ continued ability to access international funding and garner support from the international financial community,” commented Nirmal Govindadas, Senior Vice President Corporate Treasury for Emirates.