FLY continues fleet strategy as it sells 33 Aircraft and announces a 47% reduction in management fee

FLY Leasing today announced the sale of 33 aircraft as part of its fleet renewal strategy and also separately announced a 47% reduction in its annual management fee. The 33 aircraft from its portfolio have been sold for a total of $985 million. This represents a $35 million 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 usual closing conditions. “The sale is a milestone