DOHA- Qatar-based Lesha Bank has agreed to sell six Airbus A380 aircraft with an estimated combined market value of $250 million (QAR 910 million) to Emirates (EK), giving the Dubai-based carrier long-term ownership of aircraft already operating within its fleet. The transaction will transfer ownership of the superjumbos from the bank’s investment portfolio to the airline in phases.
Emirates has already taken delivery of two aircraft, while the remaining four will transfer by April 2028 as their existing lease agreements expire. The deal forms part of the airline’s wider strategy to acquire aircraft at the end of their leases, securing long-term control over its Airbus A380 fleet as the aircraft continues to play an important role in its international operations.
Details of A380 Sale to Emirates
Lesha Bank confirmed the agreement through a stock exchange disclosure on November 10, 2026.
The transaction was arranged through an investment structure managed by the bank on behalf of the Lesha Aviation Fund, which holds the aircraft as part of its aviation investment portfolio.
The six aircraft are identified as Airbus A380-861 models. Although their combined market value is approximately $250 million, Lesha Bank has not disclosed the final transaction price or the expected financial gain from the sale.
The transfer schedule follows the expiry of the aircraft’s existing leases, allowing Emirates to acquire the aircraft without requiring an immediate transfer of the entire group. The final four aircraft are expected to change ownership in stages through April 2028.
Jonathan Skirrow, co-CEO of Lesha Aviation Services, said the transaction reflected the longstanding relationship between the two companies. He also highlighted the investment firm’s focus on structured aviation transactions and delivering value for its investors.
Lesha Aviation Portfolio
The transaction follows Lesha Bank’s acquisition of Amedeo Air Four Plus (AA4+), an aircraft leasing company, in June 2026.
The acquisition expanded the bank’s exposure to the widebody aircraft leasing market and strengthened its aviation investment portfolio.
Before the sale, AA4+ held 12 widebody aircraft, including six Airbus A380s, two Boeing 777-300ERs and four Airbus A350-900s.
These aircraft were leased to Emirates and Thai Airways, providing the lessor with exposure to major international airlines.
Lesha Bank has also reported strong financial growth during 2026. Its net profit increased 50.2% year-on-year to $57.8 million (QAR 210.4 million) during the first nine months of the year.
Additionally, its assets under management doubled, rising 101% to $6.5 billion (QAR 23.6 billion). The bank operates as an independent Sharia-compliant investment bank and trades on the Qatar Stock Exchange under the ticker QFBQ.
Emirates Fleet Strategy
Emirates remains the world’s largest Airbus A380 operator and continues to rely on the double-decker aircraft for high-capacity international routes.
The airline’s long-haul network depends heavily on the A380 and Boeing 777, particularly as it manages fleet requirements amid delays affecting new-generation aircraft deliveries.
Emirates’ 2025-26 financial results show that aircraft ownership has become an important part of its fleet strategy.
During the financial year, the airline purchased 29 Airbus A380s and five Boeing 777s at the end of their respective leases, demonstrating its preference for retaining selected aircraft rather than returning them to lessors.
The airline operated a fleet of 277 aircraft at the end of March 2026 and carried 53.2 million passengers during the financial year. It also recorded a net profit of $5.4 billion (AED 19.7 billion), its highest annual profit at the time, Forbes reported.
The A380 continues to support this strategy because of its capacity and established role across Emirates’ long-haul network. According to the airline’s annual report, the aircraft carried 43% of its total passengers across 53 destinations during 2025-26.
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