Fly Leasing reports Q2 2017 financial results

Fly Leasing Limited (NYSE: FLY), a global lessor of modern, fuel-efficient commercial jet aircraft, has announced its financial results for the second quarter of 2017, the company said.

FLY is reporting net income of USD 2.9 million, or USD 0.09 per diluted share, for the second quarter of 2017. This compares to net income of USD 4.7 million, or USD 0.14 per share, for the same period in 2016.

Net income for the six months ended June 30, 2017 was USD 7.9 million, or USD 0.25 per share. For the same six month period in 2016, net income was USD 11.8 million, or USD 0.35 per share.

Adjusted Net Income was USD 9.7 million for the second quarter of 2017, compared to USD 15.0 million for the same period in the previous year. On a per share basis, Adjusted Net Income was USD 0.31 in the second quarter of 2017, compared to USD 0.45 for the second quarter of 2016. For the six months ended June 30, 2017, Adjusted Net Income was USD 20.8 million, or USD 0.65 per share, compared to USD 31.4 million, or USD 0.93 per share, for the same six month period in 2016.

FLY is a global aircraft leasingcompanywith a fleet of modern, high-demand, and fuel efficient commercial jet aircraft. FLY leases its aircraft under multi-year lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, a worldwide provider of aircraft lease management and financing.