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Fly Leasing Proposed Acquisition of Aircraft Portfolio Approved by AirAsia Shareholders

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Fly Leasing ( FLY ), an aircraft leasing company, said Wednesday shareholders of Malaysia-based AirAsia Group Berhad has approved the company's acquisition of 55 Airbus narrow-body aircraft and seven CFM engines on operating lease, and the option to purchase an additional 20 Airbus A320neo family aircraft.

"The positive vote by AirAsia's shareholders was the final approval needed to complete the acquisition," said CEO Colm Barrington.

"The addition of these aircraft and engines will grow FLY's fleet significantly and will drive improved returns for our shareholders. We look forward to completing the transfer of the 34 aircraft and seven engines that comprise the initial part of the transaction" by the end of Q3.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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