FLY Leasing announces 2013 transactions

DUBLIN, Ireland – FLY Leasing Limited, a leading global lessor of modern commercial jet aircraft, today announced the completion of the following transactions during 2013:

DUBLIN, Ireland – FLY Leasing Limited, a leading global lessor of modern commercial jet aircraft, today announced the completion of the following transactions during 2013:

• Signed agreements to lease 36 aircraft

• Purchased 14 aircraft, including one A320, eleven B737-NGs, one B777-300ER and one B787-8

• Sold ten aircraft (average age 13.6 years) for a net gain of $6.3 million

• Secured $1.1 billion of debt financing

• Raised $173 million of new equity capital

• Increased portfolio to 113 aircraft at year end

“We actively managed the portfolio in 2013, acquiring 14 aircraft and selling ten older aircraft, which increased our fleet size and lowered its average age,” said Colm Barrington, CEO of FLY. “We also raised $173 million in equity capital and $1.1 billion in debt financing, putting the Company in a strong position to grow further in 2014. After achieving our growth objectives for the year, we increased the quarterly dividend by 14% to $0.25 per share, which we believe also demonstrates our confidence in the Company’s outlook.”

“Looking forward into 2014, we are well on the way to meeting our previously announced growth target of 10-15%, with an identified pipeline of approximately $200 million of acquisitions in the early part of 2014,” added Barrington.

FLY has a fleet of 113 aircraft on lease to 62 airlines in 34 countries.

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Linda Hohnholz

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