Falko Purchases Six 717s From Fly Leasing

Aircraft lessor Falko Regional Aircraft has bought six 717-200 aircraft from fellow lessor Fly Leasing. Fly, which is managed and serviced by BBAM, bought the aircraft in 2011 in a deal for 49 aircraft. The aircraft were manufactured in 2001. “The sale of these non-core aircraft will result in a gain over our current book value and generate gross cash proceeds of $17m,” said Colm Barrington, CEO of FLY. “In addition, the sale of these aircraft continues our successful process of deleveraging the company and generating cash for future acquisitions,” he added. The aircraft remain on lease to Qantas in Australia, in service with its QantasLink regional operations.

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