FLY Leasing reports third quarter 2015 financial results

FLY Leasing, a global leader in aircraft leasing, posted its financial results for the third quarter of 2015. FLY is reporting net income of US$19.9m for the third quarter of 2015. This compares to net income of US$15.4m for the same period in 2014. Total revenues increased to US$106.2m. Operating lease rental revenue for the third quarter of 2015 was US$104.4m compared to US$98.0m for the same period in the previous year, an increase of 7%. The increase was driven primarily by recently acquired aircraft and improved utilization. Revenues include US$27.7m of rents from aircraft that are contracted to be sold.