Skip to main content

Market Overview

FLY Leasing To Sell 8 Boeing 757 Aircraft


FLY Leasing Limited (NYSE: FLY), a global lessor of modern commercial jet aircraft, today announced that it has agreed to sell eight of the 11 Boeing 757 aircraft in its fleet. The sales are expected to close by the end of 2015.

"The sale of these eight older B757 aircraft, averaging 15.7 years of age, will lower the average age of our fleet and substantially reduce our exposure to out-of-production aircraft," said Colm Barrington, CEO of FLY. "The total proceeds from this transaction will exceed the net book values of the aircraft, which continues our record of moving on older aircraft at premiums to net book value. Meanwhile, we will not record any charge or any gain as a result of signing the sale agreements."

"FLY's strategy is to actively manage its fleet, continually selling older aircraft and reinvesting in younger models. FLY is on track to grow its fleet by more than 15% in 2014, and expects similar growth in 2015," added Barrington.


Related Articles (FLY)

View Comments and Join the Discussion!

Posted-In: News Press Releases

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at