FLY Leasing sells 33 aircraft as part of fleet renewal strategy

FLY Leasing Limited, a global leader in aircraft leasing, has released that it has contracted to sell 33 aircraft from its portfolio for a total of US$985m. This represents a US$35m pre-tax gain over approximate net book values as of June 30, 2015. The aircraft will transfer to the new owner over the course of 2015 and pro rata gains will be recognized at time of transfer of each aircraft. The sale is subject to customary closing conditions.