Originally Posted by
Rhodes13
There's one fatal flaw in this argument though. The "20 mates rates 380" from EK aren't owned by them, but rather are leased (much like the vast majority of the EK fleet). So how do you propose EK could gift something to QF that they don't own?
Page 98 on the annual report for 2017
https://cdn.ek.aero/downloads/ek/pdf...eport_2017.pdf
Which is another reason EK is pushing this
EK is having issues with leasing companies willing to finance 380s as there is little to no second hand market for them and those finance the 380s are taking a loss if they are sold for scrap
So the deal takes 20 380s from the scrap heap and keeps them flying for this venture giving EK a better deal on new 380 leases
There is some complex accounting that I don't have the details on, but I can assure you that EK is a big winner on this deal....