Investment in FLY Leasing Limited ("FLY Leasing"-formerly known as Babcock & Brown Air Limited)
GIL owns 1,051,010 shares or a 3.1% stake in FLY Leasing Limited ("FLY Leasing") which was listed on the New York Stock Exchange at an initial public offering (“IPO”) on 27 September 2007.
The Shares in FLY Leasing were acquired when the portfolio of aircraft owned by JET-i Group, in which GIL was a foundation investor, was sold to B&B Air.
FLY Leasing is an aircraft lessor whose main business is to acquire commercial jet aircraft and lease them under long-term contracts to a diverse group of airlines throughout the world.
FLY Leasing currently has a fleet of over 60 aircraft which it leases under multi-year operating leases to over 35 airlines in 19 countries.FLY Leasing’s fleet of aircraft is relatively modern with an average age of approximately 6.3 years with a weighted average lease term of approximaely 5.4 years.
Click on the following link to access the website of FLY Leasing:
www.flyleasing.com