Fly Leasing Limited (Fly), formerly Babcock & Brown Air Limited, incorporated on May 3, 2007, is a global lessor of commercial jet aircraft. The Company is engaged in purchasing commercial aircraft which it, in turn, leases to airlines. The Company�s aircraft are leased under long-term to medium-term contracts to a diverse group of airlines worldwide. Fly is a holding company that conducts its business through its subsidiaries. As of December 31, 2011, it had 56 Boeing aircraft and 53 Airbus aircraft in its fleet. FLY Leasing currently has a fleet of 111 aircraft that it leases under multi-year operating leases to 53 airlines in 29 countries. In October 14, 2011, the Company acquired 49 aircrafts (GAAM Portfolio). On February 23, 2012, the Company acquired two Boeing 737-700 aircraft on lease to GOL Airlines. In August 2012, the Company acquired two Boeing 737-800 aircraft. In March 2013, the Company announced that it has sold six Boeing 717-200 aircraft.