During 2014, FLY Leasing grew its portfolio by 22% to $3.7 billion, purchased 22 aircraft for $952 million and sold eight aircraft (average age 12.6 years) for a net gain of $19 million. FLY reduced its average fleet age to 7.8 years (from 8.6 years) and increased its average remaining lease term to 5.3 years (from 4.3 years). The lessor signed 17 lease extensions and 22 new leases and secured $703 million of additional debt financing “We actively managed our portfolio in 2014, acquiring 22 new and relatively new aircraft and selling eight older models, increasing our fleet book value
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