FLY Leasing Acquires Four Aircraft, Growing Fleet to 119 Aircraft
DUBLIN, April 7, 2014 /PRNewswire/ -- FLY Leasing Limited (NYSE: FLY), a global lessor of modern commercial jet aircraft, today announced it has added four more aircraft to its fleet, including one Airbus A319 manufactured in 2004 and three Boeing 737-800s, one manufactured in 2008 and the other two in 2010. The aircraft are leased to leading airlines in Europe and Asia with a remaining weighted average remaining lease term of 6.3 years.
"We have now spent over $160 million in 2014 acquiring six additional aircraft and bringing our fleet to 119 aircraft," said Colm Barrington, CEO of FLY. "We have also identified a robust pipeline of acquisitions for the remainder of the year and expect to meet our target of expanding our fleet by up to 15% in 2014."
FLY now has a fleet of 119 aircraft on lease to 65 airlines in 34 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. 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