FLY Leasing Acquires New Boeing 737-800
DUBLIN, April 25, 2013
DUBLIN, April 25, 2013 /PRNewswire/ --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
"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.
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.
FLY Leasing Limited
SOURCE FLY Leasing Limited
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