FLY Leasing Purchases Three New Boeing 737-800s

FLY Leasing Limited

, a global lessor of modern commercial jet aircraft, today announced that it has signed agreements with a leading Asian airline to purchase and lease back three new Boeing 737-800 aircraft. FLY has delivered the first aircraft, with the two remaining aircraft due for delivery during the current quarter. "We are continuing our strong fleet growth with the addition of three new B737-800s, increasing our total acquisitions this year to 19 aircraft valued at over $800 million," said Colm Barrington, CEO of FLY. "FLY's acquisition of new aircraft on long-term leases, coupled with our ongoing strategy of selling older aircraft, continues to lower the age of our fleet, increase the length of our leases and grow our revenues and profitability. Our recent issue of $400 million of unsecured notes, combined with more than $300 million of capacity in our acquisition facility, provides FLY with the financial resources to maintain our growth trajectory."