FLY Leasing Sells Three Aircraft

FLY Leasing Limited (NYSE: FLY) today announced that it has sold one Boeing 737-700 and two Airbus A320-200s from its portfolio. The B737-700 was manufactured in 2001 while the A320s were both manufactured in 1995.

"FLY has now sold 11 aircraft from its portfolio, each at a premium to net book value. This highlights the inherent value in our portfolio and our continued commitment to creating shareholder value by capitalizing on market opportunities," said Colm Barrington, CEO of FLY. "The sales of these 11 aircraft have generated aggregate gains in excess of $40 million above net book value."

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