Fly is best of breed among the Leasing companies. It pays a stable dividend. Management has been timely in either buying back shares or debt. In 2009 or so it bought back large pieces of debt at 25c / dollar when all heavens were going nuts in the market.
In 2011 they acquired 50 planes or so for literally no cash - but assumption of debt.
The only bad thing is the recent sale of leasing managment company in a less than arms length transaction and the infusion selling of stock at $12 a share to some hedgefund. Fly should have amble cash to grow the business.
If not, its an ideal take over candidate at around $20 a share that should only increase by 5 - 10% per year.
Fly trades at a discount because of its size and relative obscurity, it is however the better investment.
Been here since 07 allways paid. fairly priced is probably right, mgmt made smart moves a few years back now the have their work cut out for them. They need to pay down debt and grow a little. New hedge fund just got in around 12$ little while ago . This vacillates from 14.5-11.95 but I will just keep reinvesting my divys till some one wants the whole thing at 10 % to NAV which should be 16.2$. Listen to their past cc. GLTA. P.S. There is a LOT of white noise on this board.