FLY Leasing announces 47% reduction in annual BBAM management fee

FLY Leasing Limited, a global leader in aircraft leasing, posted that its annual management fee payable to BBAM, FLY’s manager and servicer, has been reduced from US$10.7m per annum to US$5.7m per annum, or 47%, in connection with the sale of a portfolio of aircraft announced separately today. The fee reduction will take effect as of July 1, 2015.