Irish aircraft lessor FLY Leasing has sold six Boeing 717-200s and plans to channel the proceeds into new aircraft acquisitions.

The aircraft, which were manufactured in 2001, were originally acquired by FLY Leasing in 2011 as part of a 49-aircraft deal.

“The sale of these non-core aircraft will result in a gain over our current book value and generate gross cash proceeds of $17 million,” FLY Leasing CEO Colm Barrington said. “These sales are in line with our strategy of selling non-core aircraft and reinvesting in younger, more popular models to maintain a fleet of modern, fuel-efficient commercial aircraft.”

Barrington added the deal will help deleverage the company and generate cash for future aircraft acquisitions.