Airbus Bags $8.3 Billion Deal With Leasing Company Amedeo For 20 A380 Aircraft At Singapore Airshow

on February 12 2014 2:31 AM
Airbus
Workers set up exhibition booths near a model of an Airbus A380 aircraft ahead of the Singapore Airshow February on 7, 2014. Reuters/Edgar Su

European airplane manufacturer Airbus (EPA:AIR) on Wednesday bagged an $8.3 billion deal with aircraft leasing company, Amedeo, which was until Tuesday known as the Doric Lease Group, for 20 A380 aircraft, at the Singapore Airshow.

The provisional order was placed last June at the air show in Paris, but the purchase was finalized at the Singapore event. Airbus said, in a statement, that Amedeo CEO Mark Lapidus and Airbus Chief Operating Officer, Customers John Leahy, signed the deal for the superjumbo double-decker jet, which has a maximum seating capacity of 573 passengers.

“As world air traffic continues to double every 15 years and airport infrastructure and slots do not, the A380 is the best solution for airlines to capture that growth and build passenger loyalty,” Lapidus said in the statement. Dublin, Ireland-based Amedeo, which manages the acquisition and leasing of wide-body aircraft, announced the change in its company name from Doric Lease Group, on Tuesday.

“This firm order from Amedeo is a clear recognition of the A380’s long-term market appeal," Airbus' Leahy said in the statement.

Since the A380 began commercial service in 2007, Airbus had aimed to get a total of 750 orders for the double-decker aircraft but has so far only received orders for 304 planes, including Emirates’ order for 50 aircraft worth $20 billion, made at the Dubai air show. Airbus received a total of 160 orders worth $44 billion for its products at the Dubai event.

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