Doric Lease comfortable with A380 funding

This story is sourced from

Doric Lease is confident it will be able to secure the funding needed for its recent order for 20 Airbus A380s.

"We need a significant amount of capital and we know where we are on the equity side. Overall we are comfortable with our position," said Doric Lease's chief commercial officer Paul Kent at the Ascend Finance Forum in London.

Kent says Doric Lease is working on concluding the purchase agreement with Airbus in order to get the deposits and pre-delivery payment funding in place.

"We are in discussions with large institutions and investors but we have a slightly different approach from the more traditional operating lessors," he explains.

The lessor plans to attract fewer private equity companies and more long term investors such as pension funds and insurance companies.

Doric Lease signed a memorandum of understanding for 20 A380s last month at the Paris air show. Deliveries of the A380s will start in 2016.