• Home
  • Post a press-release
  • Visibility packages
  • Subscribe email updates
  • Event Calendar
  • Contact

For Immediate Release | Official News Wire for the Travel Industry

Where press releases are breaking news

  • Home
  • Post a press-release
  • Visibility packages
  • Subscribe email updates
  • Event Calendar
  • Contact

Fly Leasing completes sale of a $295 million portfolio of 12 aircraft

April 18, 2019 by Forimmediaterelease

Fly Leasing Limited announced that it has completed the sale of a portfolio of 12 aircraft for an aggregate price of approximately $295 million. The portfolio was comprised of Airbus A320 and Boeing B737 narrow-body aircraft with an average age of over 10 years.

“This portfolio sale accomplishes several strategic objectives; including generating free cash, reducing leverage, reducing our lessee concentration, and lowering the average age of our fleet,” said Colm Barrington, CEO of FLY. “This is another example of how FLY has consistently sold aircraft from its portfolio at premiums to book value, underscoring the strong value of our fleet.”

Three sales were recognized in the fourth quarter of 2018, eight sales were completed in the first quarter of 2019, and the final sale was completed in April. The sales were at a premium to net book value. FLY will be reporting its first quarter results on May 9th, as previously announced.

Travel News | eTurboNews

Share this:

  • Twitter
  • Facebook

Filed Under: Press Release Tagged With: and, announced, April, average, Aviation News, aviation-website, B737, body, Boeing, book, Breaking Travel News, cash, CEO, Colm Barrington, completed, Corporate News, eight, first, first quarter, fleet, fly by, FLY Leasing Limited, free, in, including, International Travel News, Ireland travel news, IT, Leasing, Leasing Limited, Limited, lowering, May, million, narrow, net, News articles, over, portfolio, premium, price, quarter, reporting, results, said, sale, Sales, sold, strategic, strong, to, Tourism Investment News, Transportation News, Travel Technology News, Travelwire News, value, were, World News, years

Search




Recent Articles

  • Coronavirus Disease 2019 (COVID-19) situation in Thailand as of 7 March 2021, 11.30 Hrs.
  • First group completes 14-day Golf Quarantine in Thailand
  • Coronavirus Disease 2019 (COVID-19) situation in Thailand as of 6 March 2021, 11.30 Hrs.
  • The St. Regis Almasa Opens Its Doors In Egypt’s New Administrative Capital
  • Royal Palaces reopen from 4 March 2021
  • Thailand sees gradual return of events and festivals with strict COVID-19 controls
  • Coronavirus Disease 2019 (COVID-19) situation in Thailand as of 5 March 2021, 11.30 Hrs.
  • Seychelles opens up to the world
  • Marriott International to Provide Associates Financial Award for COVID-19 Vaccination
  • New Austin Marriott Downtown Brings Inspiring Hospitality Experience to the Heart of the Texas Capital

Copyright © 2021 · Metro Pro on Genesis Framework · WordPress · Log in