Amedeo in conversation with Emirates – Amedeo Air Four Plus says that its manager, Amedeo Limited has received written confirmation that Emirates are seeking some form of financial accommodation from the company.
The board has asked the manager to continue its negotiation with Emirates and also with the company’s lending banks which financed the acquisition of the six A380-800 aircraft and two Boeing 777-300ERs that the company has leased to Emirates. They want to come to some conclusion that would be acceptable to all parties.
The board thinks that it will take a little time to come to an agreement, the negotiations are not helped by the restraints caused by the Covid-19 crisis. However, in the meantime, Emirates has confirmed that “the lease rental will remain current and up-to-date until an agreed contractual position is achieved“.
The board will keep the company’s financial position under review and will make a further announcement as and when there are any material developments in connection therewith.
The key to this is securing some concession from the lending banks.