March 1, 2018 / 12:50 AM / 4 months ago

BRIEF-Fly Leasing To Acquire Major Aircraft Portfolio

Feb 28 (Reuters) - Fly Leasing Ltd:

* FLY LEASING TO ACQUIRE MAJOR AIRCRAFT PORTFOLIO

* FLY LEASING - ‍ENTERED INTO DEFINITIVE AGREEMENT WITH AIRASIA BERHAD AND ASIA AVIATION CAPITAL, UNDER WHICH CO WILL ACQUIRE 54 AIRBUS NARROWBODY AIRCRAFT

* FLY LEASING - ‍AAB TO RECEIVE ABOUT $1.0 BILLION IN CASH AND 3.3 MILLION NEWLY-ISSUED FLY SHARES AT $15.00 PER SHARE AS PART OF INITIAL STAGE OF TRANSACTION​

* ‍AT CLOSING OF INITIAL STAGE OF TRANSACTION, FLY WILL ACQUIRE 34 AIRBUS A320-200 AIRCRAFT AND SEVEN AIRCRAFT ENGINES​

* ‍IN ADDITION, FLY WILL ACQUIRE OPTION TO PURCHASE AN ADDITIONAL 20 AIRBUS A320NEO FAMILY AIRCRAFT​

* FLY LEASING - CO WILL ALSO ACQUIRE 7 CFM ENGINES ON LEASE TO AIRASIA BERHAD, AFFILIATES AND 1 AIRBUS NARROWBODY AIRCRAFT ON LEASE TO THIRD-PARTY AIRLINE​ Source text for Eikon: Further company coverage:

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