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Fly Leasing reveals it has $2bn for fleet growth

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John Mulligan / Independent.ie
December 7 2017 2:30 AM

Dublin-based aircraft lessor Fly Leasing, which is headed by former Aer Lingus chairman Colm Barrington, has confirmed that it has $2bn available to expand its fleet as it eyes further jet purchases in 2018.

Fly Leasing currently has 84 aircraft in its fleet, primarily narrow-body, single-aisle jets such as Airbus A320s and Boeing 737s.

However, it also has a small number of long-haul aircraft on its books, including Airbus A330s and Boeing 777s. The fleet is valued at more than $3bn.

Fly Leasing, which is listed on the stock market in New York, has sold 72, older, less profitable aircraft since 2015. It told investors at a Goldman Sachs aircraft-leasing conference in New York that it has invested $1.6bn in 30 younger jets in the same period.

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