FLY Leasing Repurchases Over 1M Shares and Maintains Share Repurchase Program

FLY Leasing Limited FLY today confirmed that on March 8, 2011 it repurchased 1,035,438 shares of its stock for $11.925 per share in a privately negotiated transaction. FLY repurchased the shares utilizing its unrestricted cash. The shares were repurchased outside of the existing share repurchase program which had $12.4 million remaining as of December 31, 2010. Under there purchase program, FLY may make share repurchases from time to time in the open market or in privately negotiated transactions.