FLY Leasing Closes $250 Million Aircraft Acquisition Facility

        FLY Leasing Closes $250 Million Aircraft Acquisition Facility

PR Newswire

DUBLIN, Nov. 8, 2012

DUBLIN, Nov. 8, 2012 /PRNewswire/ --FLY Leasing Limited (NYSE: FLY) ("FLY"),
a leading global lessor of modern commercial jet aircraft, today announced it
has closed a new $250 million warehouse facility to support its ongoing
acquisition of aircraft. The facility has a two-year draw down period
followed by a three-year term period, maturing in November 2017. Deutsche
Bank AG, Citigroup Global Markets, Inc., Morgan Stanley Senior Funding, Inc.,
RBC Capital Markets and BNP Paribas were the Joint Lead Arrangers and
Bookrunners for the transaction.

"The successful completion of this aircraft acquisition facility at attractive
pricing provides FLY with additional resources to grow its fleet with young
aircraft," said Colm Barrington, CEO of FLY Leasing. "We will continue to
focus on the most modern and popular narrow body aircraft that are in high
demand with airlines around the world."

FLY has a fleet of 110 modern commercial aircraft on lease to 53 airlines in
29 countries.

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 use of proceeds of the term loan and the outlook for FLY's
future debt maturities, as well as 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.

Contact:

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

SOURCE FLY Leasing Limited

Website: http://www.flyleasing.com