Fly Leasing To Purchase 3 New Boeing Airplanes

NEW YORK (AP) -- Fly Leasing Ltd. will buy three new Boeing airplanes in a sale and leaseback deal with Dubai airline FlyDubai.

The airplane lessor said Thursday that it will take the 737-800s in October and December 2010 and in February 2011, which will lower the average age of its fleet.

Fly also sold three planes currently on lease to three separate airlines. The planes, an A320-200 made in 1995 and two B737-800s made in 2006, were sold to two separate buyers.

Fly will have 62 planes on lease to 33 airlines once the transactions are complete.

Shares of Fly, based in Dublin, Ireland, added 18 cents to $12.94 in afternoon trading, a new 52-week high.
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