DUBLIN, Ireland, May 16, 2013 – FLY Leasing Limited (NYSE: FLY) (“FLY”), a global lessor of modern commercial jet aircraft, today announced a further re-pricing of its 2012 Term Loan.  The interest rate on the amended loan will be LIBOR plus 3.50%, a 1.00% reduction from the previous interest rate. In addition, the LIBOR floor has been reduced to 1.00%, a reduction of 0.25%.

“This is the second re-pricing of our 2012 Term Loan, demonstrating our active approach to managing our capital structure. The transaction will lower FLY’s overall cost of funding, which has been steadily decreasing over the last two years. Lender support for this transaction is a testimony to FLY’s positive operating and financial performance as well as a reflection of the continuing strength of the aircraft leasing sector,” said Colm Barrington, CEO of FLY.

In conjunction with the re-pricing, FLY will pay its current Term Loan lenders a one-time prepayment fee of 1.00% of the current outstanding principal of $380 million. The transaction is anticipated to close before the end of May 2013, subject to customary closing conditions.

About FLY

FLY acquires and leases modern, high-demand and fuel-efficient commercial jet aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, one of the world’s leading aircraft lease managers with more than 20 years of experience. For more information about FLY, please visit our website at www.flyleasing.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain “forward – looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “will,” or words of similar meaning and include, but are not limited to, statements regarding the outlook for FLY’s future business and financial performance  and the financial and accounting impact of the transaction described herein. Forward-looking statements are based on management’s current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory and other factors and risks. FLY expressly disclaims any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in its views or expectations, or otherwise.

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Contact:

Matt Dallas
FLY Leasing Limited
+1 203-769-5916
ir@flyleasing.com

DUBLIN, Ireland, May 7, 2013 – FLY Leasing Limited (NYSE: FLY) (“FLY”), a global lessor of modern commercial jet aircraft, today announced that its Chief Executive Officer, Colm Barrington, is scheduled to present at the Wells Fargo Securities Industrial and Construction Conference in New York on Wednesday, May 8, 2013 at 10:55 a.m. Eastern Time.

A live webcast of the presentation will be available on the Events page in the Investor Relations section of FLY’s website at www.flyleasing.com. An archived webcast will be available on the website for three months.

About FLY

FLY acquires and leases modern, high-demand and fuel-efficient commercial jet aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, one of the world’s leading aircraft lease managers with more than 20 years of experience. For more information about FLY, please visit our website at www.flyleasing.com.

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Contact:

Matt Dallas
FLY Leasing Limited
+1 203-769-5916
ir@flyleasing.com

DUBLIN, Ireland, April 25, 2013 – FLY Leasing Limited (NYSE: FLY) (“FLY”), a global lessor of modern commercial jet aircraft, today announced that it has acquired a 2013 manufactured Boeing 737-800 aircraft on a 12-year lease to a leading low-cost carrier in Asia. The acquisition was funded with a combination of FLY’s unrestricted cash and the $250 million aircraft acquisition facility that was closed in November 2012.

“The B737-800 is an excellent commercial aircraft in strong global demand and this acquisition makes it the 38th B737 Next Generation aircraft in FLY’s fleet,” said Colm Barrington, CEO of FLY. “Following the sale of nine older aircraft in the first quarter, the addition of this new aircraft demonstrates our focus on improving and renewing the fleet. FLY has substantial resources available for growth, with approximately $220 million of remaining availability in our aircraft acquisition facility and a significant balance of unrestricted cash.”

“We will continue to focus on our strategy of acquiring young, modern and popular commercial jet aircraft, leased to a diverse group of global airlines,” added Barrington.

About FLY

FLY acquires and leases modern, high-demand and fuel-efficient commercial jet aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, one of the world’s leading aircraft lease managers with more than 20 years of experience. For more information, please visit www.flyleasing.com.

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Contact:

Matt Dallas
FLY Leasing Limited
+1 203-769-5916
ir@flyleasing.com

DUBLIN, Ireland, April 15, 2013 – FLY Leasing Limited (NYSE: FLY) (“FLY”), a global lessor of modern, fuel-efficient commercial jet aircraft, today announced it has published its 2012 annual report on its website.  The annual report can be accessed by visiting the Annual Report page in the Investor Relations section of FLY’s website at www.flyleasing.com.

Shareholders may receive a hard copy of FLY’s annual report and complete 2012 audited financial statements free of charge by sending an email request to info@flyleasing.com or by calling +1 203-769-5916.

About FLY

FLY acquires and leases modern, high-demand and fuel-efficient commercial jet aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, one of the world’s leading aircraft lease managers with more than 20 years of experience. For more information about FLY, please visit our website at www.flyleasing.com.

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Contact:

Matt Dallas
FLY Leasing Limited
+1 203-769-5916
ir@flyleasing.com

DUBLIN, Ireland, April 15, 2013 – FLY Leasing Limited (NYSE: FLY) (“FLY”), a leading global lessor of modern commercial jet aircraft, today announced that it has declared a quarterly cash dividend of $0.22 per common share for the first quarter of 2013. The dividend will be paid on May 20, 2013 to shareholders of record on April 30, 2013.

FLY has declared 22 consecutive quarterly cash dividends since it went public on the NYSE in 2007.

About FLY

FLY acquires and leases modern, high-demand and fuel-efficient commercial jet aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, one of the world’s leading aircraft lease managers with more than 20 years of experience. For more information about FLY, please visit our website at www.flyleasing.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain “forward – looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “will,” or words of similar meaning and include, but are not limited to, statements regarding the outlook for FLY’s future business and financial performance. Forward-looking statements are based on management’s current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory and other factors and risks. FLY expressly disclaims any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in its views or expectations, or otherwise.

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Contact:

Matt Dallas
FLY Leasing Limited
+1 203-769-5916
ir@flyleasing.com

For U.S. federal income tax purposes, FLY Leasing will be treated as a passive foreign investment company (“PFIC”) for 2012 and expects to be treated as a PFIC for the foreseeable future.

To access the statement, visit the Tax Information page under the Investor Relations section of FLY’s website at www.flyleasing.com.

About FLY

FLY acquires and leases modern, high-demand and fuel-efficient commercial jet aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, one of the world’s leading aircraft lease managers with more than 20 years of experience. For more information about FLY, please visit our website at www.flyleasing.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain “forward – looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “will,” or words of similar meaning and include, but are not limited to, statements regarding the outlook for FLY’s future business and financial performance. Forward-looking statements are based on management’s current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory and other factors and risks. FLY expressly disclaims any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in its views or expectations, or otherwise.

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Contact:

Matt Dallas
Investor Relations
FLY Leasing Limited
+1 203-769-5916
IR@flyleasing.com

FLY’s senior management will host a conference call and webcast to discuss these results at 9:00 a.m. U.S. Eastern Time on Thursday, May 2, 2013. Participants should dial +1 706-758-4339 (International) or 877-309-0213 (North America) and enter confirmation code 30889368. Please call at least five minutes early to allow for connection time.

A live webcast will be available on the Events page in the Investor Relations section of FLY’s website at www.flyleasing.com.

To access the telephone replay, dial +1 404-537-3406 (International) or 855-859-2056 (North America) and enter confirmation code 30889368. The telephone replay will be available for one week. A webcast replay will be available on the company’s website for one year.

About FLY
FLY acquires and leases modern, high-demand and fuel-efficient commercial jet aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, one of the world’s leading aircraft lease managers with more than 20 years of experience. For more information about FLY, please visit our website at www.flyleasing.com.

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Contact:

Matt Dallas
FLY Leasing Limited
+1 203-769-5916
ir@flyleasing.com

“The sale of these non-core aircraft will result in a gain over our current book value and generate gross cash proceeds of $17 million,” said Colm Barrington, CEO of FLY. “The sale of these older aircraft at a price above our book value once again highlights the value in our portfolio and our commitment to monetizing that value for shareholders. These sales are in line with our strategy of selling non-core aircraft and reinvesting in younger, more popular models to maintain a fleet of modern, fuel-efficient commercial aircraft.”

“In addition, the sale of these aircraft continues our successful process of deleveraging the company and generating cash for future acquisitions,” added Barrington.

About FLY
FLY acquires and leases modern, high-demand and fuel-efficient commercial jet aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, one of the world’s leading and experienced aircraft lease managers. For more information about FLY, please visit our website at www.flyleasing.com.

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Contact:

Matt Dallas
FLY Leasing Limited
+1 203-769-5916
ir@flyleasing.com

Fly Leasing, a Dublin-based and New York-listed aircraft leasing company led by Aer Lingus chairman Colm Barrington, announced strong growth in its revenues and profits yesterday. The company reported net income for 2012 of $47.7 million, up from $1.1 million the previous year.

Its revenues increased to $376.4 million from $230.7 million in 2011. The company increased its dividend payment by 10 per cent to 84 cent a share.

The increase in earnings reflected the growth in its aircraft portfolio, which has doubled in size over the past two years, the company said.

“We had good leasing income and did a few good deals,” Mr Barrington said.

At the end of 2012, Fly had 109 aircraft on lease to 55 airlines in 32 countries.

He said Fly Leasing would spend between $300 million and $500 million this year on acquiring 10 or 12 aircraft after securing additional funding in 2012.

“Airline traffic was up 5.5 per cent worldwide in 2012 and IATA is expecting this year to be another good year,” Mr Barrington added.

In relation to Aer Lingus, Mr Barrington welcomed the European Commission’s recent decision to reject Ryanair’s offer for the company.

He is now hopeful that the UK Competition Commission will rule that Ryanair should be forced to sell its 29.8 per cent stake in Aer Lingus.

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