DUBLIN, Ireland – FLY Leasing Limited, a global lessor of modern commercial jet aircraft, today announced it has sold four aircraft from its portfolio. The four aircraft have an average age of 14 years and the sales will further reduce the age of FLY’s fleet. The sales generated a gain over FLY’s net book value.
“Selling four older aircraft at premiums to net book value again underscores the value in our portfolio and demonstrates our ability to monetize a range of aircraft types and ages,” said Colm Barrington, CEO of FLY. “Divesting older assets and investing in young and popular models is an integral part of our business strategy. We intend to reinvest the proceeds of these sales in attractive aircraft to achieve our growth targets.”
FLY has now sold five aircraft in the second quarter.