Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines throughout the world. The Company primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft; purchasing portfolios, which consists of aircraft of various types and ages, and acquiring individual aircraft. Its aircraft are leased under multi-year contracts to various group of airlines in Europe; Asia and South Pacific; Mexico, South and Central America; North America, and Middle East and Africa. It has approximately 84 aircraft and seven engines in its portfolio. In that 84 aircraft, 78 are held for operating lease, one is classified as an investment in finance lease and five aircraft are off-lease.