Fly Leasing repurchases shares
FLY Leasing Limited has confirmed that on 08-Mar-2011 it repurchased 1.04 million shares of its stock for USD11.925 per share in a privately negotiated transaction. FLY repurchased the shares utilising its unrestricted cash.
The shares were repurchased outside of the existing share repurchase programme, which had USD12.4 million remaining as of 31-Dec-2010. Under the repurchase programme, FLY may make share repurchases from time to time in the open market or in privately negotiated transactions.
FLY has now repurchased 24% of its outstanding shares. Since Jun-2008, FLY has repurchased more than 8 million of its shares at an average price of less than USD8.00 per share. After the latest repurchase, FLY had a total of 25.7 million shares outstanding.
The company's shares fell 1.1% yesterday.
Selected Lessors daily share price movements (% change): 28-Mar-2011