6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

Date of Report: September 18, 2015

Commission File Number: 001-33701

Fly Leasing Limited

(Exact Name of registrant as specified in its charter)

West Pier

Dun Laoghaire

County Dublin, Ireland

(Address of principal executive office

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F R Form 40-F £

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): £

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): £

A copy of Fly Leasing Limited’s press release, dated September 17, 2015, is furnished as an exhibit hereto and incorporated by reference herein. 

Investors and others should note that Fly Leasing Limited announces material information to investors through the investor relations page on its website (www.flyleasing.com/investor-relations), SEC filings, press releases, public conference calls and webcasts. The Company expects to update investor presentations and similar materials on a regular basis and will continue to post these materials to its investor relations website. The Company encourages investors, the media and others to review its press releases and the information it posts from time to time on its website.

Exhibits

The following document, which is attached as an exhibit hereto, is incorporated by reference herein:

Exhibit	Title
99.1	Fly Leasing Limited’s press release dated September 17, 2015.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Fly Leasing Limited
	(Registrant)
September 18, 2015	By	/s/ Gary Dales
		Gary Dales
		Chief Financial Officer

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EXHIBIT INDEX

Exhibit	Title
99.1	Fly Leasing Limited’s press release dated September 17, 2015.

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EX-99.1

Exhibit 99.1

FLY Leasing Sells Older Aircraft, Continuing Fleet Renewal Strategy

DUBLIN, Ireland, September 17, 2015 – FLY Leasing Limited (NYSE: FLY) (“FLY”), a global leader in aircraft leasing, today announced that it has contracted to sell 12 older aircraft from its portfolio for $240 million. The sale is anticipated to produce a $12 million pre-tax gain. In connection with the transaction, FLY anticipates recording $3 million in non-cash charges relating to debt modification and extinguishment costs. The aircraft will transfer individually to the new owner, with all transfers expected to be completed by year end. The gain and the associated expenses will be recognized on a pro rata basis at the time of each transfer. The sale is subject to customary closing conditions.

“FLY is moving decisively to monetize older aircraft and to reinvest the capital into younger aircraft to drive higher ROE,” said Colm Barrington, CEO of FLY. “In total, this year we have sold or contracted to sell 57 aircraft with an average of 13 years.”

“This bold action reflects our view that this is the right time to rotate out of mid-life and older aircraft and to invest in younger models,” added Barrington. “We are improving every measurable fleet metric to drive higher ROE in the quarters ahead. The 12 aircraft in the transaction announced today have an average age of 13 years and the sales will produce approximately $80 million in cash. This is on top of the $35 million gain and $425 million in cash to be generated by the portfolio sale of 33 aircraft previously announced in June.”

Separately, FLY completed a sale of a 22-year-old B747-400 aircraft earlier this month.

About FLY

FLY is a global aircraft leasing company with a fleet of modern, high-demand and fuel-efficient commercial jet aircraft. FLY leases its aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, a worldwide leader in aircraft lease management and financing. For more information, visit www.flyleasing.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain “forward - looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “will,” or words of similar meaning and include, but are not limited to, statements regarding the outlook for FLY’s future business and financial performance. Forward-looking statements are based on management’s current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory and other factors and risks, including, without limitation, the possibility that the transaction will not close in a timely fashion, or at all, the risk that the expected benefits of the transaction may not be fully realized, and the risk that business disruption relating to the transaction may be greater than expected. Further information on the factors and risks that may affect FLY’s business is included in filings FLY makes with the Securities and Exchange Commission from time to time, including its Annual Report on Form 20-F and its reports on Form 6-K. FLY expressly disclaims any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in its views or expectations, or otherwise.

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Contact:

Matt Dallas

FLY Leasing Limited

+1 203-769-5916

ir@flyleasing.com