8-Nov-2013 10:41 AM

FLY Leasing reports profit in 3Q2013

FLY Leasing revenue down 8% – financial highlights for three months ended 30-Sep-2013:

  • Total revenue: USD79.1 million, -8.4% year-on-year;
    • Operating lease: USD78.4 million, -7.2%;
  • Profit before provision for income tax: USD1.1 million, compared to a loss of USD31.4 million in p-c-p;
  • Net profit: USD304,000, compared to a loss of USD29.4 million in p-c-p;
  • Total assets: USD3286 million;
  • Cash and cash equivalents: USD207.0 million;
  • Total liabilities: USD2548 million. [more - original PR]

FLY Leasing: “The global airline industry is strong with air traffic and airline load factors at or near all-time highs. Demand for leased aircraft remains strong and we are seeing improvements in lease rates. As we look ahead to 2014, FLY is well positioned to benefit from its strong financial position, its growing fleet and improving industry conditions,” Colm Barrington, CEO. Source: Company statement, 07-Nov-2013.