FLY Leasing acquires two new Airbus A321s

FLY Leasing has agreed to purchase two new Airbus A321 aircraft in a sale and leaseback transaction with a leading European airline. The first aircraft has already been delivered and the second will be delivered in the coming months. Both aircraft are on long-term leases. “FLY continues its growth trajectory with the acquisition of two new aircraft,” said Colm Barrington, CEO of FLY. “For the past two years, we have focused on acquiring newer aircraft and divesting of older models, which has driven revenue growth while lowering the average age of our fleet and improving our average lease term. FLY has now grown its fleet value to more than US$3.5bn. In addition, we have consistently monetized older aircraft at premiums to book value, demonstrating the strong inherent value in our fleet.”