FLY Leasing Acquires Two Airbus A320s

DUBLIN, Ireland, February 3, 2015 – FLY Leasing Limited (NYSE: FLY) (“FLY”), a global leader in aircraft leasing, announced that it has purchased two Airbus A320 aircraft on lease to a leading Asian airline. The aircraft were manufactured in 2004 and 2005.

“FLY is taking advantage of two acquisition opportunities that we believe will produce attractive returns,” said Colm Barrington, CEO of FLY. “Lower fuel prices have created even stronger demand for the aircraft types in our fleet, which are the most modern in-production aircraft available. We continue to focus on acquiring new aircraft, and divesting of older models, but will take advantage of opportunities to add other aircraft provided that they are the right types, are bought at attractive prices and will produce strong returns. These acquisitions meet these tests.”