- Fly Leasing is still struggling to collect the lease revenues expected on a pre-pandemic basis, as the company's lessees struggle with weak air travel demand and tighter COVID-19 restrictions.
- Air travel demand should pick up latter in 2021, and FLY's more domestic/short-haul-oriented fleet should pick up a little faster relative to wide-body demand.
- I expect FLY to generate long-term ROEs in the mid-to-high single digits, supporting a fair value in the $14 to $16.50 range today.
For further details see:
Fly Leasing Still Offers Upside On Air Travel Demand Recovery