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FLY Leasing reports strong profit growth in 2012

8-Mar-2013 2:26 PM

FLY Leasing revenue up 74% - financial highlights for 12 months ended 31-Dec-2012:

  • Total revenue: USD432.7 million, +73.9% year-on-year;
    • Operating lease revenue: USD376.4 million, +63.2%;
  • Profit before tax: USD51.5 million, +865%;
  • Net profit: USD47.7 million, compared to a profit of USD1.1 million in p-c-p;
  • Total assets: USD2969 million, -7.2%;
  • Cash and cash equivalents: USD163.1 million, +98.7%;
  • Total liabilities: USD2437 million, -11.6%. [more – original PR]

FLY Leasing: “Looking ahead, we are excited about the opportunities for FLY in 2013. We have significant firepower to grow the Company with a new USD250 million revolving Acquisition Facility and USD163 million of unrestricted cash. We expect to take advantage of positive industry dynamics, including strengthening air traffic and continued robust demand for the modern, fuel-efficient aircraft that make up FLY’s fleet. Aircraft leasing continues to grow in importance, becoming an increasingly important tool for airlines around the world. Against this backdrop, we are well positioned to meet our growth targets both in terms of fleet and earnings,” Colm Barrington, CEO. Source: Company statement, 07-Mar-2013.