Fly Leasing buys three Boeing Dreamliners

Irish aircraft financier Fly Leasing has bought five new craft, including three Dreamliners, in deals with two airlines.

Fly said it had bought three Boeing 787-8 Dreamliners in a sale-and-leaseback transaction with a leading flag carrier.

Airlines frequently sell craft to financiers and lease them back to free up cash or as a means of funding their original purchase.

Fly also said it had bought two Boeing 737-800s from a South American airline. It is leasing the aircraft to an Asian carrier for six years.

Fly chief executive Colm Barrington noted that the company now had four Boeing 787s, the US manufacturer's newest aircraft.

“”We also continue to add to our fleet of B737-800s, which is a workhorse of the global airline industry and has maintained its strong value,” he said.