FLY Leasing Acquires Another New B737-800

DUBLIN, Sept. 24, 2013 /PRNewswire/ -- FLY Leasing Limited (NYSE: FLY), a global lessor of modern commercial jet aircraft, today announced it has purchased another brand new Boeing B737-800 aircraft. The aircraft is on a long-term lease to a leading Asian airline. The purchase was financed with FLY's unrestricted cash and its acquisition facility.

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"We have now acquired seven B737-800s this year, further expanding our fleet of modern and popular commercial aircraft on lease to major airlines around the world," said Colm Barrington, CEO of FLY. "In 2013 FLY has already purchased aircraft valued at approximately $425 million, executing its strategy of growing its fleet with the most modern, fuel efficient and popular aircraft. These additions to our portfolio will increase FLY's cash flow and earnings per share."

About FLY
FLY acquires and leases modern, high-demand and fuel-efficient commercial jet aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, one of the world's leading aircraft lease managers with more than 20 years of experience. For more information, please visit www.flyleasing.com. 

Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as "expects," "intends," "anticipates," "plans," "believes," "seeks," "estimates," "will," or words of similar meaning and include, but are not limited to, statements regarding the FLY's plans, objectives, expectations and intentions. Forward-looking statements are based on management's current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory and other factors and risks. These factors include, but are not limited to those described under ''Risk Factors'' beginning on page S-9 of the prospectus supplement and the information described under ''Risk Factors'' under the heading ''Item 3. Key Information'' beginning on page 4 of FLY's Annual Report on Form 20-F for the fiscal year ended December 31, 2012, which is incorporated in the prospectus supplement by reference, and any risk factors included or described in FLY's other periodic reports, and in other information filed with the SEC, from time to time, and incorporated by reference into the prospectus supplement. Should one or more of these risks or uncertainties materialize, or should any of FLY's assumptions prove incorrect, FLY's actual results may vary in material respects from those projected in these forward-looking statements. FLY expressly disclaims any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in its views or expectations, or otherwise.

Contact:

Matt Dallas
FLY Leasing Limited
+1 203-769-5916
ir@flyleasing.com

SOURCE FLY Leasing Limited