DUBLIN, Ireland, Jan. 26, 2015 /PRNewswire/ -- FLY Leasing Limited (NYSE: FLY), a global leader in aircraft leasing, announced that it has agreed to purchase two new Airbus A321 aircraft in a sale and leaseback transaction with a leading European airline. The first aircraft has already been delivered and the second will be delivered in the coming months. Both aircraft are on long-term leases.
"FLY continues its growth trajectory with the acquisition of two new aircraft," said Colm Barrington, CEO of FLY. "For the past two years, we have focused on acquiring newer aircraft and divesting of older models, which has driven revenue growth while lowering the average age of our fleet and improving our average lease term. FLY has now grown its fleet value to more than $3.5 billion. In addition, we have consistently monetized older aircraft at premiums to book value, demonstrating the strong inherent value in our fleet."
FLY Leasing is global aircraft leasing company with a fleet of modern, high-demand and fuel-efficient commercial jet aircraft. FLY acquires and leases its aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, a worldwide leader in aircraft lease management and financing. For more information 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 outlook for FLY's future business and financial performance. 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 FLY's 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