The three Doric Nimrod Trusts have announced results for the year ended 31 March 2015.
Doric Nimrod Air One says everything is going according to plan, Emirates have made all payments as they fell due and the company continues to pay quarterly dividends of 2.25p. As at 31 March 2015, the average of three external valuations showed a diminution in US Dollar terms from book values of 5.7% for the residual value, but no diminution in the current value since the launch of the Company.
Likewise Doric Nimrod Air Two continues to pay quarterly dividends of 4.5p and Doric Nimrod Air Three continues to pay quarterly dividends of 2.0625p.
The companies’ manager changed its name from Doric Lease Corp Management Ltd to Amedeo Management Limited.
During the calendar year 2014 overall global air traffic passenger demand, measured in revenue passenger kilometres (RPKs), expanded by 5.9% compared to the year before. This is slightly above the 10-year average growth rate of 5.6%. A regional breakdown reveals that the Middle East airlines, including Emirates, continued to outperform the overall market in 2014; RPKs increased by 12.6% compared to the year before. Second best were Asia/Pacific based operators with 7.1%. Latin America grew by 6.4% and 5.8% growth in Europe was slightly below the market average across all regions. North American market participants recorded 2.7% more RPKs. The average passenger load factor on domestic and international flights during the last calendar year was 79.7%. This is an increase of 0.2 percentage points compared to the period before.
Emirates has also continued to perform well by declaring an operating profit for the 27th consecutive year and flying more passengers than ever before, carrying 49.3 million people to 144 destinations on six continents during the last financial year 2014/15. The carrier has launched five new destinations and added services and capacity to 34 cities on its existing route network. To foster its expansion Emirates received 24 new aircraft, including twelve A380s, bringing its total fleet count to 231. Emirates launched five additional destinations during the last financial year including Abuja, Brussels, Budapest, Chicago, and Oslo. In addition, the operator added frequencies to 34 existing destinations.
At the end of April 2015 the A380 had 13 operators with 159 planes in service. There were undelivered orders of some 158 A380s at that point in time. According to Airbus, until December 2014 the worldwide A380 fleet had accumulated 1.7 million flight hours. The number of passengers who flew aboard an Airbus A380 was over 75 million. In early December 2014 Airbus announced there were 94 routes to 44 destinations worldwide served by A380 aircraft. Every four minutes an A380 is taking off or landing somewhere in the world. The global A380 fleet consisted of 154 commercially used planes in service at the end of February 2015. The thirteen operators are Emirates (58 A380 aircraft), Singapore Airlines (19), Qantas (12), Deutsche Lufthansa (12), Air France (10), Korean Airways (10), China Southern Airlines (5), Malaysia Airlines (6), Thai Airways (6), British Airways (9), Asiana (2), Qatar Airways (4) and Etihad Airways (1).
DNA / DNA2 / DNA3 : Doric Nimrod Trusts all on plan