FLY Leasing Limited (NYSE: FLY) said it has acquired a new Boeing 737-800 aircraft in a sale and leaseback transaction with an airline. The aircraft is on lease until 2027.
“This brand new B737-800 is our latest acquisition as we look to deploy capital to grow earnings,” said Colm Barrington, CEO of FLY. “Following our recent sale of a large group of mid-aged aircraft from our fleet, we are on track to invest more than USD750 million in aircraft acquisitions this year, which will further reduce our fleet age, enhance our earnings and increase our ROE. Meanwhile our average lease term is also increasing.”
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.