FLY Leasing Acquires 2013 Vintage Boeing 737-800

DUBLIN, Ireland, August 8, 2013 – FLY Leasing Limited (NYSE: FLY) (“FLY”), a global lessor of modern commercial jet aircraft, today announced it acquired a 2013 vintage Boeing 737-800. The aircraft is on a long-term lease to a leading carrier in China. The purchase was financed with FLY’s unrestricted cash and its aircraft acquisition facility.

“This is the sixth B737-800 and seventh aircraft FLY has acquired in 2013,” said Colm Barrington, CEO of FLY. “FLY is on a positive growth trajectory, having completed over $375 million of acquisitions this year. The funds raised from our equity offering, combined with our aircraft acquisition facility and cash generated from our portfolio, provide us with the resources to take advantage of attractive growth opportunities as we seek to maximize shareholder value by growing per share earnings and cash flow.”