FLY Leasing Reports on Quarterly Earnings

FLY Leasing Limited, a Dublin-based aircraft investment firm, published its financial results for the second quarter of 2019. The firm is publicly traded on the New York Stock Exchange. It received quarterly operating lease rental revenues of about $101 million, 13.3% higher than in the same quarter of 2018. Its total revenues climbed to $147 million, up 43.3% year-on-year. The company’s net income surged 220% to $54 million.

FLY owns a fleet of 98 planes which are all managed and serviced by BBAM, an aircraft asset management firm. 86 of these are highly liquid narrow-body aircraft models in the Airbus A320 family and Boeing 737 family. It owns two 737 MAX aircraft which are currently grounded. Between April and June, the company purchased two aircraft and sold seven aircraft.

Source: FLY Leasing