Why Shares of Fly Leasing Are Soaring Higher Today
Shares of Fly Leasing (NYSE:FLY) climbed more than 25% on Wednesday following a report saying the company is considering a sale. It has been a tough year for Fly and other aircraft leasing companies, but management could be hoping a buyer sees long-term value in its portfolio. So what It's been a turbulent year for airlines, and companies that rely on airlines for revenue have been caught in the downdraft. The pandemic has led to less demand for flying, and Fly Leasing and other companies that buy planes from manufacturers and then lease them to airlines have seen their businesses bruised.
Source: fool.com