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Monday, March 25, 2013

FLY Leasing to Receive $17 Million from Sale of Boeing 717s

Irish aircraft lessor FLY Leasing announced the sale of six Boeing 717-200s last week, a transaction that will generate $17 million for the company to use towards future aircraft acquisitions.

The company did not disclose the name of the customer that purchased the aircraft. The Boeing 717-200s were manufactured in 2001 and acquired by FLY in 2011 as part of an acquisition of 49 aircraft.

“The sale of these older aircraft at a price above our book value once again highlights the value in our portfolio and our commitment to monetizing that value for shareholders. These sales are in line with our strategy of selling non-core aircraft and reinvesting in younger, more popular models to maintain a fleet of modern, fuel-efficient commercial aircraft," said Colm Barrington, CEO of FLY. More

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