Doric Aircraft Fund 5

The Doric Aircraft Fund 5 invests in a new Boeing 777-300ER aircraft with two General Electric engines, which will be leased long term to Emirates.

Market
Despite the challenges of the current market and the high oil price in particular, globalisation and liberalisation are driving the growth of the aviation industry worldwide. In addition, the industry is benefitting from the new wealth of the growing middle classes in emerging economies, which has created new markets for tourism and business, thereby further benefitting the aviation industry.

Asset
The Boeing 777-300ER is the world’s largest twin-engine widebody aircraft and because of its twin-engine design at this capacity, it is one of the most efficient. The Boeing 777-300ER is designed for high-volume routes of more than 10.000 km, and belongs to one of Boeing’s most modern aircraft series (first delivery of the type in 2004). By 31st July 2008, 379 Boeing 777-300ER had been ordered by 27 customers; so far, 156 of these have been delivered.

The Boeing 777-300ER this fund is investing in is due to be delivered to Emirates in May 2009 directly from the manufacturer and will be leased for ten years with extension options.

Lessee
Emirates is an award-winning airline as well as the flagcarrier of the emirate OF Dubai. The airline has grown into one of the most cost-efficient and therefore most profitable airlines worldwide and operates a very modern long-haul fleet. The high quality standard which Emirates has been able to offer its customers has made this success possible.

So far, Emirates has won more than 300 prizes and awards for punctuality, service and comfort etc.

Economics
The projected total distributions are 215%* over 18 years.

* includes capital repayments and any reimbursable taxes

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