FLY Leasing reports second quarter 2012 net income of $46.1m

FLY Leasing, a global lessor of modern, fuel-efficient commercial jet aircraft, announced its financial results for the second quarter of 2012. FLY’s net income for the second quarter of 2012 were $25.7m compared to $4.1 million in the same period of 2011. The increases in operating lease revenue and net income is primarily due to the growth in the aircraft portfolio following the aircraft acquisitions completed in late 2011.  End of lease income and gains on the sale of three aircraft also contributed to the increase in net income as compared to the second quarter of 2011. Net income for the six months ended June 30, 2012 were $46.1m compared to $6.9m in the same period in 2011.