Doric Nimrod Air Two (DNA2) has sold its five remaining Airbus aircraft to Emirates for $200m (153.5m). 

The company, which purchased seven Airbus A380-861 aircraft from October 2011 onwards and leased each for 12 years to Emirates, intends to distribute the sale proceeds to shareholders (together with the remaining cash holdings, net of any liquidation and other costs) by the first quarter of 2025.

The sales price works out at $40m (£30.71m) for each aircraft, which is slightly higher than the £29.61m it sold the two other Airbus aircraft in its portfolio to Emirates in 2023.

The respective lease end dates for each of the remaining five assets are between 1 October 2024 and 30 November 2024, after which they will be sold to Emirates.

A further announcement detailing final distribution amounts and timetable will be released in due course.

A quarterly dividend is expected to be declared in October, which will be the last interim dividend to be declared by the company.