About us

DP Aircraft I Limited was incorporated with limited liability in Guernsey under The Companies (Guernsey) Law, 2008, as amended, on 5 July 2013 with registered number 56941.

The Company is traded on the Specialist Fund Market of the London Stock Exchange (ISIN number GG00BBP6HP33).

The Company’s investment objective is to obtain income returns and a capital return for its Shareholders by acquiring, leasing and then, when the Board considers it is appropriate, selling aircraft.

The Company aims to provide Shareholders with an attractive total return comprising income, from distributions through the period of the Company’s ownership of the Assets, and capital, upon any sale of the Assets.

In the event that the Company is wound up pursuant to a shareholder resolution, Shareholders may also receive a capital return out of any sale of the Assets and any surplus assets of the Company.

The Company is targeting a net IRR in excess of 11 per cent. over the life of the Leases and taking into account the economic full-life condition of the Assets upon the expiry of the Leases. This net IRR is a target only and should not be treated as an assurance or guarantee of performance or a profit forecast. It is based on the performance projections of the investment strategy and market conditions at the time of modeling and is therefore subject to change. There is no guarantee that any target net IRR can or will be achieved.

Thai Airways International Public Company Limited, commercially branded as “Thai”, was founded in 1960 and is the national carrier of the Kingdom of Thailand. It operates full service domestic, regional and intercontinental flights radiating from its home base in Bangkok to key destinations around the world and within Thailand. The company’s paid up capital amounts to Baht 21.83 billion (equivalent to approximately US$ 698 million based on the Baht/US$ exchange rate as at 14 September 2020) and is 53.16 per cent. owned by the Ministry of Finance and the Government Savings Bank. Thai Airways is listed on the stock exchange of Thailand. Thai Airways entered Business Rehabilitation on 14 September 2020.

As at 30 June 2023, Thai Airways had an active fleet of 67 aircraft, including A320 aircraft under the operation of its subsidiary Thai Smile. Thai Airways operates a widebody fleet, including eight Boeing 787s.

According to its consolidated audited accounts for the first half of 2023, ended 30 June 2023, Thai Airways’ total operating revenue was Baht 73.91 billion (equivalent to approximately US$2.10 billion based on the Baht/US$ exchange rate as at 30 June 2023), an increase of 146 per cent compared to the same period in 2022. Baht 68.50 billion (2022: Baht 26.25 billion) of this revenue was related to transportation activities, Baht 4.81 billion (2022: Baht 3.43 billion) represented revenue from business units and from other activities, while Baht 0.59 billion (2022: Baht 0.26 billion) was related to other income.

According to its consolidated unaudited accounts for the 3 months ended 30 June 2023, Thai´s total operating revenues for the period was Baht 34.95 billion, an increase of 77 per cent on the equivalent 3-month period in the previous year.

Thai’s total assets as at 30 June 2023 were Baht 222.91 billion, including a cash balance of Baht 50.32 billion.

The Company´s aircraft are two Boeing 787-8 fitted with Rolls Royce engines.

The Boeing 787, also known as the “Dreamliner”, is a twin-engine long-range aircraft which is distinguished by its entirely new aircraft design. The Boeing 787 is a mid-size aircraft which has the range of large passenger aircraft and offers airlines the most efficient fuel consumption currently available.

As at the end of July 2023, a total of 1,072 Boeing 787s, of which 393 were of the B787-8 variant, had been delivered to more than 60 customers including leasing companies such as AerCap, leaving 684 orders unfilled. As at 8th September 2023, nine B787s had been in storage.

The list of operating airlines comprises more than 75 carriers from around the world. Apart from airlines such as Air Canada, Air France-KLM, American Airlines, British Airways, Etihad Airways, Qantas and Singapore Airlines, the variety of operators also include smaller airlines such as Air Tahiti Nui and Air Austral. This is evidence of the Boeing 787’s worldwide popularity.

DS Aviation GmbH & Co. KG (“DS Aviation”) has been appointed by the Company to provide asset management services to the Company.

DS Aviation is a German limited partnership. DS Aviation’s registered office is situated at Stockholmer Allee 53, 44269 Dortmund, Germany. DS Aviation is a limited partnership with DS Aviation Management GmbH and Dr. Peters being its general and limited partners respectively. DS Aviation is indirectly wholly-owned by JS Holding GmbH & Co. KG.

Christian Mailly of DS Aviation is a member of ISTAT, the International Society of Transport Aircraft Trading.

Dr. Peters has been developing, placing and managing closed-ended funds for more than 45 years and is among the longest running and largest owner-operated initiators of closed-ended funds in Germany. Dr. Peters is a leading provider of products and services for investors in the fields of aviation, shipping and real estate. One of the firm’s core competencies is its asset management expertise, which is an integrated part of all Dr. Peters transactions and a cornerstone of the business. DS Aviation is responsible for the sourcing and structuring and commercial and technical management of aviation investments made by Dr. Peters funds.

Further information on DS Aviation can be found here: www.dr-peters.de.
 

Principal Bankers

Royal Bank of Scotland International Limited
2nd Floor, Royal Bank Place
1 Glategny Esplanade
St Peter Port
Guernsey
GY1 4BQ
Channel Islands