FLY Leasing posts powerful drop in net income on better than average 2010 quarter

Clearly FLY Leasing has a good story to tell and is primed for growth but it is also clear that the market has yet to catch on, judging by its book value. That was also reflected in the frustration expressed yesterday as the company reported net income dropped precipitously in the first quarter from USD16.6 million to USD2.8 million on a decline in operating lease revenue.