Fly Leasing closes purchase and leasebacks with LATAM

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Fly Leasing has completed two sale and leaseback transactions with LATAM involving Boeing twin-aisle aircraft.

The lessor acquired a new Boeing 777-300ER aircraft under a purchase and leaseback transaction with LATAM Airlines Group (LATAM).

Fly used its own unrestricted cash and funding from the European bank market to finance the purchase. .

The operating lessor also entered into a purchase and leaseback agreement with LATAM for a new 787-8 aircraft scheduled for delivery in September 2013.

"With the delivery of the 777, FLY has now acquired six aircraft for approximately $330 million in 2013 and has identified a robust pipeline of additional acquisitions to meet our ambitious growth target," says Fly Leasing's chief executive officer said Colm Barrington.