DUBLIN, July 29, 2014 /PRNewswire/ -- FLY Leasing Limited (NYSE: FLY), a global lessor of modern commercial jet aircraft, today announced it has signed agreements with a leading Asian airline to purchase and lease back three Airbus A330-300 aircraft. Under the terms of the agreements, FLY will purchase the first of the aircraft in the coming weeks and the two remaining aircraft later this year. Two of the aircraft were manufactured in 2013 and the third in 2014.
In a separate transaction, FLY has purchased a B737-800 on a long-term lease to a leading European carrier.
"FLY has now purchased 12 aircraft in 2014. With the signing of an additional three aircraft in this sale and leaseback transaction, FLY is well on its way to beating its 15% fleet growth target for the second year in a row," said Colm Barrington, CEO of FLY. "We look forward to continuing to expand our worldwide airline relationships as the 6.2% growth in global air traffic experienced in the first five months of 2014 continues to outpace historical trends.
FLY now has a fleet of 118 aircraft on lease to more than 65 airlines in over 35 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. 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 FLY makes with the Securities and Exchange Commission from time to time, including its Annual Report on Form 20-F and its 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.
FLY Leasing Limited
SOURCE FLY Leasing Limited