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BRIEF-Fly Leasing places Air Berlin on non-accrual status
September 25, 2017 / 2:16 PM / 3 months ago

BRIEF-Fly Leasing places Air Berlin on non-accrual status

Sept 25 (Reuters) - Fly Leasing Ltd:

* Says due to insolvency proceedings, co placed Air Berlin on non-accrual status, will recognize revenue from two leases as cash is received

* Says due to availability of security deposits, letters of credit, co does not expect negative impact on operating lease rental revenue for Q3

* says as a result of insolvency proceedings, Fly intends to assess both of the aircraft leased to Air Berlin for impairment

* Says believes that it is likely that there will be an impairment charge on the Airbus A330-200 aircraft Source text: (bit.ly/2htADVX) Further company coverage:

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