Fly Leasing to sell 12 aircraft

Fly Leasing has contracted to sell 12 narrowbody aircraft from its portfolio. The 12 aircraft have a weighted average age of 10.6 years and an average remaining lease term of 3.2 years. FLY anticipates the sales will generate in excess of $125 million of cash after repaying debt and satisfying other transaction-related expenses. It is expected that the sales will be completed by March 31, 2019. “These sales meet several strategic objectives, particularly reductions in our leverage and our lessee concentrations. We expect to announce more sales over the coming months as we prepare for our growth pipeline of more