FLY Leasing Acquires Four More Aircraft

                   FLY Leasing Acquires Four More Aircraft

PR Newswire

DUBLIN, June 5, 2014

DUBLIN, June 5, 2014 /PRNewswire/ --Further expanding its fleet, FLY Leasing
Limited (NYSE: FLY), a global lessor of modern commercial jet aircraft, today
announced it has acquired four more Next Generation Boeing 737-800 aircraft.
The aircraft were manufactured in 2006, 2008 and 2010 (two aircraft) and are
on lease to four leading airlines in Europe. The acquisitions were financed
from FLY's unrestricted cash.

FLY Leasing Limited logo.

"We are making steady progress towards meeting our target of growing our fleet
by 15% in 2014," said Colm Barrington, CEO of FLY. "We have now acquired
eleven aircraft for more than $300 million this year. We continue to be active
in the market, focusing on our strategy of selling older aircraft and renewing
our fleet with young and popular aircraft that are used by a broad range of
airlines worldwide. Meanwhile the airline industry continues to perform
strongly, with a reported 6% increase in global airline traffic in the first
four months of the year."

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, 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. Further information on the
factors and risks that may affect our business is included in filings we make
with the Securities and Exchange Commission from time to time, including our
Annual Report on Form 20-F and our 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.

Contact:

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

Logo - http://photos.prnewswire.com/prnh/20130709/SF44539LOGO

SOURCE FLY Leasing Limited

Website: http://www.flyleasing.com
 
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