Why Shares of Fly Leasing Are Falling Today
Shares of Fly Leasing (NYSE: FLY) fell more than 8% on Thursday after the aircraft leasing company reported weaker-than-expected earnings. The COVID-19 pandemic is weighing on airlines, making life difficult for companies that rely on aviation for revenue and profits. Before markets opened on Thursday, Fly Leasing reported second-quarter earnings of $0.37 per share on revenue of $79.1 million, falling short of analyst expectations for $0.45 per share on revenue of $83 million.
