FLY Leasing To Sell 12 Older Aircraft For $240m

Irish lessor FLY Leasing has said it will sell 12 of its older aircraft for $240m as part of its fleet renewal strategy.

Irish lessor FLY Leasing has said it will sell 12 of its older aircraft for $240m as part of its fleet renewal strategy.

Anticipating to make a $12m pre-tax gain on the aircraft, FLY Leasing said they be transferred individually to the new owner, with all transfers expected to be completed by the end of 2015.

So far this year, the Dublin-headquartered firm has sold or contracted to sell 57 aircraft with an average age of 13 years.

Colm Barrington, CEO of FLY, said: “FLY is moving decisively to monetize older aircraft and to reinvest the capital into younger aircraft to drive higher return on equity.”

TAGS: Europe
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