Babcock and Brown Airlines Fly Leasing Limited (NYSE: FLY) was founded in 2007 and is headquartered in Dún Laoghaire, Ireland. Through its subsidiaries, it purchases commercial aircraft and leases it to major airline operators through multi-year contracts worldwide. .
Babcock and Brown Airlines Fly Leasing Limited (FLY):
Fly Leasing Limited is an aircraft leasing company that leases aircraft to major airlines through long-term (multi-year) contracts.
FLY focuses on the acquisition and leasing of the most modern fuel-efficient commercial jet aircraft, which are in high demand worldwide. FLY’s aircraft are leased to various airlines around the world under multi-year contracts. FLY’s strategy is to effectively manage its fleet and expand its investment portfolio by increasing its acquisition of aircraft.
FLY does not manage its own fleet, but is managed and executed by the lease management company BBAM. FLY strictly pays attention to aircraft investment and returns, rather than daily operations. Therefore, FLY has very few employees.
Fly Leasing’s fleet is managed and served by BBAM LP, one of the world’s leading aircraft managers with more than 25 years of experience. BBAM serves as the manager and service organization of the aircraft portfolio, and also assists in acquiring and disposing of aircraft, marketing aircraft for leasing, collecting rent and other payments from aircraft lessees, monitoring maintenance, insurance and other lease obligations, and enforcing Fly Leasing to lessees s right.
In December 2012, Onex (TSX:ONEX) acquired a 50% stake in FLY’s portfolio manager BBAM and invested USD 75 million in FLY.
As of December 31, 2017, Babcock and Brown Airlines had a combination of 85 aircraft, including 73 narrow-body airliners and 12 wide-body airliners.
As of December 31, 2018, Fly Leasing Limited’s fleet has increased to 113 aircraft (mainly Airbus A320 and Boeing 737 aircraft), with a total value of 3.5 billion US dollars.