FLY Leasing Acquires a New Boeing 777-200LRF Aircraft
Monday, 26 October 2015
DUBLIN, Ireland, FLY Leasing Limited (NYSE: FLY) (“FLY”), a Dublin based aircraft leasing, today announced the acquisition of a new Boeing 777-200LRF aircraft in a sale and 12-year leaseback transaction with a leading flag carrier.
Colm Barrington, chief executive officer of FLY, said: “This is our second B777-200LRF acquisition in the past month as we continue to grow our portfolio with the most in-demand commercial aircraft.
“With a strong cash reserve, FLY is in an excellent position to take advantage of attractive growth opportunities. We continue to focus on deploying capital prudently, adding attractively-priced aircraft to improve our fleet metrics and increase FLY’s earnings and ROE. In 2015, FLY has already invested $594 million in nine aircraft with an average age of approximately one year.”
FLY is managed and serviced by BBAM LP, an aircraft lease management and financing firm, with more than 20 years in the business. BBAM is an arranger of syndicated aircraft finance in the Japanese market. BBAM manages over 450 aircraft valued at more than $14 billion. Since 1991, BBAM has originated over 550 aircraft valued at over $20 billion, and raised more than $15 billion of non-recourse debt.