FLY Leasing has announced that it has addressed the issues raised by the Securities and Exchange Commission (SEC), which relate to its accounting for maintenance rights associated with its acquisition of on-lease aircraft. Fly has restated its previously issued financial statements for fiscal years 2014 and 2013 to reflect the resolution of these issues. FLY states that investors should “now rely on the Company’s restated financial statements for fiscal years 2014 and 2013 included in its Annual Report on Form 20-F for fiscal year 2015, which was filed today [May 2].” FLY explains in its statement that “in prior years,
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