FLY Leasing Purchases Three New Airbus A321 Aircraft

DUBLIN, Nov. 24, 2014 /PRNewswire/ -- FLY Leasing Limited FLY, a global lessor of modern commercial jet aircraft, today announced that it has purchased and leased back three new Airbus A321 aircraft with a leading Asian airline.

"FLY is taking delivery of six brand new aircraft this quarter," said Colm Barrington, CEO of FLY. "Along with the recently announced addition of three new Boeing 737-800s, the acquisition of these three new A321s continues our fleet growth program with the newest and most in-demand commercial aircraft. FLY has purchased and committed to approximately $1 billion of investment in new aircraft in 2014. We have announced the acquisition of 20 aircraft so far this year, further reducing our fleet age and increasing both our lease terms and lease revenues. We expect to continue this growth trajectory into 2015."

FLY has a fleet of more than 120 aircraft on lease to more than 65 airlines in over 35 countries.

About FLY

FLY acquires and leases modern, high-demand and fuel-efficient commercial jet aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, one of the world's leading aircraft lease managers. For more information, please 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.

Contact:

Matt Dallas
FLY Leasing Limited
+1 203-769-5916
ir@flyleasing.com

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SOURCE FLY Leasing Limited