AirAsia Bhd. shareholders approved FLY Leasing Ltd.'s acquisition of 55 Airbus narrow-body aircraft and seven CFM engines on an operating lease, as well as the option to purchase an additional 20 Airbus A320neo family aircraft.

FLY Leasing CEO Colm Barrington hopes to complete the initial part of the transaction, involving 34 aircraft and seven engines, by the end of the third quarter.