Air funds aren’t ready for take-off
Doric Nimrod Air One launched back in 2010. The idea behind the aircraft-leasing fund was to buy an Airbus A380 and lease it to Emirates for an initial term of 12 years. That lease and the resulting lease payments would help fund a wedge of debt (initially $122m) plus equity that paid a dividend of 9p a year. At the end of the
