FLY Leasing Limited (NYSE: FLY), a global lessor of modern commercial jet aircraft, today announced that it has purchased two more aircraft, a Boeing B737-700 and a B737-800. The aircraft, which were manufactured in 2002 and in 2008 respectively, are leased to airlines in South America and in Europe. The acquisitions will be financed from the Company's free cash and its Term Loan, which was upsized in November 2013.
"FLY has acquired its first two aircraft of the year, two Boeing 737s, which are the work horses of the airline industry and are in strong demand world-wide," said Colm Barrington, CEO of FLY. "Our goal is to grow our fleet by up to 15% this year with a continued focus on new or nearly new aircraft. We will also take advantage of opportunities to add attractively priced mid-age aircraft that offer high returns."
FLY now has a fleet of 115 aircraft on lease to 64 airlines in 34 countries.
Source: FLY Leasing Limited
Date: Feb 24, 2014