FLY Leasing revenue down 27% in 1Q2011

FLY Leasing revenue down 27% - financial highlights for the three months ended 31-Mar-2011:

• Total revenue: USD49.7 million, -26.6% year-on-year;
• Operating lease revenue: USD47.6 million, -12.3%;
• Total costs: USD46.2 million, -1.8%;
• Net profit: USD2.8 million, -83.4%;
• Total assets: USD1992 million, +0.7%; when compared with period ended 31-Dec-2010;
• Cash and cash equivalents: USD139.8 million, -14.8%;
• Total liabilities: USD1522 million, +1.3%;
• Portfolio: 60 aircraft, unchanged compared with 31-Dec-2010. [more]

FLY Leasing: "At quarter end, all 60 of our aircraft were contracted for lease to 34 lessees in 23 countries. With all our aircraft currently leased and generating rentals, along with USD139.8 million of unrestricted cash, we remain well-positioned to grow our portfolio of aircraft," Colm Barrington, CEO. Source: FLY Leasing, 04-Apr-2011.