Fly Leasing (FLY) is reporting net income of US$75.2 million for the fourth quarter of 2019. This compares to net income of US$31.0 million for the same period in 2018. Net income for the year ended December 31, 2019 was US$225.9 million, compared to net income of US$85.7 million for the year ended December 31, 2018.
Adjusted net income was US$77.0 million for the fourth quarter of 2019, compared to US$30.8 million for the same period in the previous year. For the year ended December 31, 2019, adjusted net income was US$245.9 million, compared to US$91.2 million for the same period last year.
In the year 2019 FLY sold 35 aircraft with an average age of over 10 years, generating an economic gain of nearly US$150 million, which was an 18% premium to book value.
