FLY Leasing profitable in 2Q2016

FLY Leasing operating lease revenue down 25% - financial highlights:

• Three months ended 30-Jun-2016:
• • Operating lease revenue: USD76.3 million, -25% year-on-year;
  • • Operating lease rental: USD73.9 million, -29%;
    • End of lease revenue: USD4.9 million, +33%;
  • Net profit: USD4.7 million, compared to a loss of USD43.7 million in p-c-p;
• Six months ended 30-Jun-2016:
• • Operating lease revenue: USD151.3 million, -32%;
  • • Operating lease rental: USD148.5 million, -28%;
    • End of lease revenue: USD8.1 million, -68%;
  • Net profit: USD11.8 million, compared to a loss of USD23.8 million in p-c-p;
  • Total assets: USD3166 million;
  • Cash and cash equivalents: USD382.1 million;
  • Total liabilities: USD2534 million. [more - original PR]

FLY Leasing: "FLY remains in a strong position to achieve its strategic objectives with USD382 million in unrestricted cash and the capacity to acquire up to USD2 billion worth of aircraft. Our fleet is 100% utilised and we continue to see excellent demand for leased aircraft," Colm Barrington, CEO. Source: Company statement, 28-Jul-2016.