FLY Leasing Sells Three Boeing 737-800s

DUBLIN, March 5, 2015 /PRNewswire/ -- FLY Leasing Limited (NYSE: FLY) ("FLY"), a global leader in aircraft leasing, announced that it has sold three Boeing 737-800 aircraft for $137 million.

"These sales have resulted in a gain over our net book value and have generated more than $30 million in cash, providing further resources to fund our ongoing acquisition program," said Colm Barrington, CEO of FLY. "The sales were strategic in our effort to maintain a diverse, balanced fleet."

About FLY FLY is a global aircraft leasing company with a fleet of modern, high-demand and fuel-efficient commercial jet aircraft. FLY acquires and leases its aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, a worldwide leader in aircraft lease management and financing. For more information, visit www.flyleasing.com.   

Cautionary Statement Regarding Forward-Looking StatementsThis press release contains certain "forward - looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as "expects," "intends," "anticipates," "plans," "believes," "seeks," "estimates," "will," or words of similar meaning and include, but are not limited to, statements regarding the outlook for FLY's future business and financial performance. Forward-looking statements are based on management's current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory and other factors and risks. Further information on the factors and risks that may affect FLY's business is included in filings FLY makes with the Securities and Exchange Commission from time to time, including its Annual Report on Form 20-F and its Reports on Form 6-K. FLY expressly disclaims any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in its views or expectations, or otherwise.

Contact:

Matt DallasFLY Leasing Limited+1 203-769-5916[email protected]

Logo - http://photos.prnewswire.com/prnh/20130709/SF44539LOGO

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/fly-leasing-sells-three-boeing-737-800s-300045946.html

SOURCE FLY Leasing Limited