Fly Leasing Reports Third Quarter 2010 Financial Results: EPS of $0.52

FLY Leasing Limited

, a global lessor of modern, fuel-efficient commercial jet aircraft, today announced its financial results for the third quarter of 2010. Third Quarter 2010 Highlights * Adjusted net income of $14.1 million, diluted EPS of $0.52, excluding $1.9 million of share-based compensation * Net income of $12.2 million, EPS of $0.45 * Generated Available Cash Flow of $40.4 million, $1.48 per share * Entered into purchase agreements for the acquisition of three new B737-800s * Sold three aircraft for net cash proceeds of $86.3 million * Repurchased 1.6 million shares at an average of $10.70 per share * Declared 12th consecutive quarterly dividend on October 15th