Fly Leasing sells four older aircraft FLY Leasing has sold four aircraft from its portfolio. The four aircraft have an average age of 14 years and the sales will further reduce the age of FLY's fleet. The sales generated a gain over FLY's net book value. FLY has now sold five aircraft in Q2.
Fly Leasing price target raised to $25 from $22 at RBC Capital RBC Capital increased its price target on Fly Leasing after the company announced that it would sell a number of its aircraft for $985M. The firm says that the deal will raise the company's ROE, and it thinks the stock's valuation is "very attractive." It keeps an Outperform rating on the shares.