13 June 2014
FLY Leasing Ltd. (NYSE: FLY) said it has sold four aircraft from its portfolio.
The four aircraft have an average age of 14 years and the sales will further reduce the age of FLY´s fleet. The sales generated a gain over FLY´s net book value.
“Selling four older aircraft at premiums to net book value again underscores the value in our portfolio and demonstrates our ability to monetise a range of aircraft types and ages,” said Colm Barrington, CEO of FLY. “Divesting older assets and investing in young and popular models is an integral part of our business strategy. We intend to reinvest the proceeds of these sales in attractive aircraft to achieve our growth targets.”
The company has now sold five aircraft in the second quarter.
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. For more information, visit www.flyleasing.com.