FLY Leasing Purchases New Boeing 787-8 Dreamliner
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.
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FLY Leasing Limited
SOURCE FLY Leasing Limited