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Mon, Apr 29, 2013

FLY Leasing Acquires New Boeing 737-800

New Airplane Will Fly In An Asian Carrier's Livery

Airline leasing company FLY Leasing Limited has acquired a 2013 manufactured Boeing 737-800 aircraft on a 12-year lease to a leading low-cost carrier in Asia. The acquisition was funded with a combination of FLY's unrestricted cash and the $250 million aircraft acquisition facility that was closed in November 2012.

"The B737-800 is an excellent commercial aircraft in strong global demand and this acquisition makes it the 38th B737 Next Generation aircraft in FLY's fleet," said Colm Barrington, CEO of FLY. "Following the sale of nine older aircraft in the first quarter, the addition of this new aircraft demonstrates our focus on improving and renewing the fleet. FLY has substantial resources available for growth, with approximately $220 million of remaining availability in our aircraft acquisition facility and a significant balance of unrestricted cash."

"We will continue to focus on our strategy of acquiring young, modern and popular commercial jet aircraft, leased to a diverse group of global airlines," added Barrington.

FLY acquires and leases commercial jet aircraft under multi-year operating lease contracts to a diverse group of airlines. FLY is managed and serviced by BBAM LP.

FMI: www.flyleasing.com

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