FLY Leasing Purchases New Boeing 787-8 Dreamliner
DUBLIN, Oct. 11, 2013
DUBLIN, Oct. 11, 2013 /PRNewswire/ --FLY Leasing Limited (NYSE: FLY), a
global lessor of modern commercial jet aircraft, today announced that it has
taken delivery of a new B787-8 aircraft. The aircraft was acquired through a
purchase and leaseback agreement with LATAM previously announced in July. The
purchase was financed with funding from a European bank and FLY's own cash.
"This new B787 adds one of the most advanced and fuel-efficient commercial
aircraft to our fleet," said Colm Barrington, CEO of FLY. "This is the ninth
aircraft we have acquired this year, bringing our total 2013 acquisitions to
more than $500 million and our portfolio to 108 aircraft. With a strong
reserve of available capital, we are continuing to execute on our strategy of
growing our fleet with the most modern aircraft, which will continue to
increase our cash flow and earnings per share."
LATAM is one of the largest airline groups in the world, providing air
services to approximately 150 destinations in 22 countries.
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.
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 FLY's plans, objectives, expectations and intentions.
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. These factors include, but are
not limited to those described under ''Risk Factors'' beginning on page S-9 of
the preliminary prospectus supplement and the information described under
''Risk Factors'' under the heading ''Item 3. Key Information'' beginning on
page 4 of FLY's Annual Report on Form 20-F for the fiscal year ended December
31, 2012, which is incorporated in the preliminary prospectus supplement by
reference, and any risk factors included or described in FLY's other periodic
reports, and in other information filed with the SEC, from time to time, and
incorporated by reference into the preliminary prospectus supplement. Should
one or more of these risks or uncertainties materialize, or should any of
FLY's assumptions prove incorrect, FLY's actual results may vary in material
respects from those projected in these forward-looking statements. 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
SOURCE FLY Leasing Limited
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