Fly Leasing — J.P. Morgan Aviation, Transportation & Defense Conference 2011
20 slides from Fly Leasing's conference presentation, Mar 23, 2011
Slide 1: FLY Leasing Limited Presentation to J.P. Morgan Aviation, Transportation & Defense Conference
FLY Leasing Limited Presentation to J.P. Morgan Aviation, Transportation & Defense Conference March 23, 2011 New York
Slide 2: Caution Concerning Forward-looking Statements
Caution Concerning Forward-looking Statements This presentation contains "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," "anticipates," "intends," "plans," "believes," "s
Slide 3: FLY Leasing is a Leading Global Lessor of Modern Aircraft
FLY Leasing is a Leading Global Lessor of Modern Aircraft Portfolio data as of 31 December 2010. Footnotes: Includes one new B737-800 contracted at 31 December 2010 and delivered in February 2011. Does not include aircraft in JV. Includes one freighter. One A330-200, one B747-400, one B767-300ER and
Slide 4: FLY Leasing's Summary Financials for the Year Ending December 31, 2010
FLY Leasing's Summary Financials for the Year Ending December 31, 2010 ($ in millions, except per share amounts) ($ in millions, except per share amounts) ($ in millions, except per share amounts) Total Revenues $ 253.7 Total Assets Total Assets $ 1,978.2 Net Income $ 52.7 Total Liabilities Total Li
Slide 5: FLY's Investment in BBAM
FLY's Investment in BBAM FLY acquired 15% of BBAM in April 2010 The balance of BBAM is held by its senior executives through Summit Aviation Partners BBAM is the world's third largest aircraft lease manager with ~400 aircraft valued at $11bn BBAM's senior management, through Summit Aviation Partners
Slide 6: BBAM - Providing FLY with a Global, Full Service Platform
BBAM - Providing FLY with a Global, Full Service Platform World's 3rd largest aircraft lease manager/servicer with 20+ years of experience ~100 employees in 9 offices with coverage of all regions Extensive relationships with 200+ airlines around the world Leader in Sale & Leaseback deals, providing
Slide 7: Representative Global Reach
Representative Global Reach Representative Global Reach Representative Global Reach Representative Global Reach Americas Asia-Pacific Africa / Middle East Europe A Small Sample of BBAM's Airline Relationships
Slide 8: FLY's Recent Portfolio Activity
FLY's Recent Portfolio Activity FLY has taken advantage of improving industry and financing conditions to make strategic aircraft dispositions and acquisitions
Slide 9: FLY's Strategy for the Future
FLY's Strategy for the Future
Slide 10: FLY's Shareholder Value Enhancements
FLY's Shareholder Value Enhancements FLY's Shareholder Value Enhancements
Slide 11: FLY's Current Financing Overview
FLY's Current Financing Overview Facility Key Covenants $853m Securitization Reduced to $596m through repurchases and repayments Minimal amortization until August 2012 Low margin, hedged interest rates No refinancing obligation Non-recourse No appraised value tests Debt Service Coverage Ratio of 1.8
Slide 12: Return of Strong Industry Fundamentals
Return of Strong Industry Fundamentals 2010 Airline Profits $15.1 billion 2011 Forecast Airline Profits $8.6 billion 2010 Passenger Traffic Growth 11.6% 2011 Forecast Passenger Traffic Growth 5.6% IATA Financial Forecast 2009 to 2029 Worldwide Annual Growth Rates (CHART) Sources: Boeing Current Mark
Slide 13: Aircraft Leasing Plays an Increasingly Important Role for Airlines
Fleets under lessor management have grown from less than 100 aircraft in the 1970s to more than 7,000 today Over 56% of airlines (~400 carriers) use aircraft on operating leases Why Airlines Lease Why Airlines Lease Fleet Flexibility Ability to quickly address changing equipment needs Financial Flex
Slide 14: FLY Leasing - Investment Highlights
FLY Leasing - Investment Highlights
Slide 15: FLY Leasing - Investment Highlights (continued)
FLY Leasing - Investment Highlights (continued) (1) Includes purchase of approximately 1 million shares on March 8, 2011.
Slide 16: Appendix
a Appendix Fy Leasing
Slide 17: FLY - Full Year 2010 Financial Results
FLY - Full Year 2010 Financial Results Current committed annualized rentals of $210m SG&A largely fixed and scalable Servicing fees predictable - largely based on a fixed percentage of lease revenues Interest rates hedged, margins fixed ($ in thousands, except per share data) Year ended Dec. 31, 201
Slide 18: FLY - Selected Balance Sheet Information
FLY - Selected Balance Sheet Information Unrestricted cash increased by 71% in 2010 Total dividends of $22.4m paid in 2010 ($ in thousands, except per share data) December 31, 2010 (Audited) December 31, 2009 (Audited) Cash and cash equivalents $164,107 $95,972 Restricted cash and cash equivalents 1
Slide 19: FLY - Available Cash Flow (a Non-GAAP Financial Measure)
FLY - Available Cash Flow ( a Non-GAAP Financial Measure) FLY defines Available Cash Flow ("ACF") as net income plus depreciation, amortization of lease incentives and debt issue costs, non-cash share- based compensation, and deferred income taxes. In addition, non-cash gains on purchases of notes p
Slide 20: FLY Leasing Investor Relations Contact
FLY Leasing (NYSE: FLY) Investor Relations Contact: Matt Dallas +1 203-769-5916 Matt.Dallas@bbam.com
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