FLY Leasing to sell eight 757s

FLY Leasing has agreed to sell eight of the 11 Boeing 757 aircraft in its fleet. The sales are expected to close by the end of 2015. “The sale of these eight older B757 aircraft, averaging 15.7 years of age, will lower the average age of our fleet and substantially reduce our exposure to out-of-production aircraft,” said Colm Barrington, CEO of FLY. “The total proceeds from this transaction will exceed the net book values of the aircraft, which continues our record of moving on older aircraft at premiums to net book value. Meanwhile, we will not record any charge or