FLY Leasing Acquires a Boeing 737-800

FLY Leasing Limited (NYSE: FLY) (“FLY”), a global leader in aircraft leasing, today announced that it has acquired a Boeing 737-800 aircraft in a sale and leaseback transaction with a European airline with which FLY has a long-standing relationship.

“The B737-800 is a workhorse of the commercial airline industry and is in strong demand globally,” said Colm Barrington, CEO of FLY. “B737-800s comprise a large part of our fleet and we will continue to invest in this attractive aircraft type, which is maintaining a robust market value. FLY continues to pursue attractive growth opportunities.”

About FLY
FLY is a global aircraft leasing company with a fleet of modern, high-demand and fuel-efficient commercial jet aircraft. FLY acquires and leases its aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, a worldwide leader in aircraft lease management and financing. For more information visitwww.flyleasing.com.

Cautionary Statement Regarding Forward-Looking Statements:

This press release contains certain “forward – looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “will,” or words of similar meaning and include, but are not limited to, statements regarding the outlook for FLY’s future business and financial performance. Forward-looking statements are based on management’s current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory and other factors and risks. Further information on the factors and risks that may affect FLY’s business is included in filings FLY makes with the Securities and Exchange Commission from time to time, including its Annual Report on Form 20-F and its Reports on Form 6-K. FLY expressly disclaims any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in its views or expectations, or otherwise.

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