FLY Leasing Acquires Five Aircraft
DUBLIN, Ireland, July 26, 2016 – FLY Leasing Limited (NYSE: FLY) (“FLY”), a global leader in aircraft leasing, today announced the purchase of five aircraft. Three Boeing 787-8 Dreamliner aircraft were purchased in a sale and leaseback transaction with a leading flag carrier. The aircraft are on 12-year leases. In addition, FLY purchased two Boeing 737-800 aircraft from a South American airline, which it has leased to a leading Asian carrier on six-year leases.
“FLY now has four B787s, which is Boeing’s newest and most modern aircraft and is flown by leading airlines globally,” said Colm Barrington, CEO of FLY. “We also continue to add to our fleet of B737-800s, which is a workhorse of the global airline industry and has maintained its strong value. As we continue to execute on our fleet rejuvenation, our fleet metrics and profitability will continue to improve. Our robust liquidity position and nimble approach to aircraft acquisitions provides us with the financial flexibility to deploy our resources opportunistically to enhance stakeholder returns.”
FLY is a global aircraft leasing company with a fleet of modern, high-demand and fuel-efficient commercial jet aircraft. FLY acquires and leases its aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, a worldwide leader in aircraft lease management and financing. For more information visit 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. Further information on the factors and risks that may affect FLY’s business is included in filings FLY makes with the Securities and Exchange Commission from time to time, including its Annual Report on Form 20-F and its Reports on Form 6-K. 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.
# # #
FLY Leasing Limited