Onex Completes Investments in BBAM and FLY

Onex Completes Investments in BBAM and FLY 
(Marketwire) -- 01/02/13 --  
All amounts in U.S. dollars unless otherwise stated 
Onex Corporation ("Onex") (TSX:OCX) today announced that it has
completed the acquisition of a 50% interest in BBAM, the world's
third largest manager of commercial jet aircraft, for $165 million.  
Onex and BBAM's management team also completed the purchase of $25
million of newly issued shares of FLY Leasing Limited ("FLY")
(NYSE:FLY), a leading global lessor of commercial jet aircraft
managed by BBAM. Including this investment and the BBAM management
team's existing stake, Onex and management will own approximately 11%
of FLY. As part of the transaction, Onex and management's investment
in FLY will become subject to a long-term lock-up agreement.  
In total, Onex Partners III invested $185 million, of which Onex'
share was $47 million as a limited partner in the Fund.  
About Onex  
With offices in Toronto, New York and London, Onex is one of the
oldest and most successful private equity firms. Onex acquires and
builds high-quality businesses in partnership with talented
management teams. The Company has approximately $14 billion of assets
under management, including $4.8 billion of proprietary capital, in
private equity, credit securities and real estate. Onex invests its
proprietary capital directly and as a substantial limited partner in
its Funds.  
Onex' businesses have assets of $39 billion, generate annual revenues
of $34 billion and employ approximately 235,000 people worldwide.
Onex shares trade on the Toronto Stock Exchange under the stock
symbol OCX. For more information on Onex, visit its website at The Company's security filings can also be accessed at 
About BBAM  
BBAM is a leading player in commercial aircraft leasing, financing
and management providing over 200 airline customers in more than 50
countries with fleet and financing solutions over its 20+ year
history. In addition, BBAM provides asset management services to
leasing companies, aviation investors and financial institutions
covering more than 450 aircraft valued in excess of $13 billion. For
more information about BBAM, please visit its website at 
out FLY  
FLY is a leading global aircraft lessor. 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. For more information about FLY, please visit
its website at 
Forward-Looking Statements  
This news release may contain forward-looking statements that are
based on management's current expectations and are subject to known
and unknown uncertainties and risks, which could cause actual results
to differ materially from those contemplated or implied by such
forward-looking statements. Onex, BBAM and FLY are under no
obligation to update any forward-looking statements contained herein
should material facts change due to new information, future events or
Emma Thompson
Vice President, Investor Relations
FLY Leasing Limited
Matt Dallas
Investor Relations
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