Willis Lease Finance

Willis Lease Finance Corp. engages in the provision of commercial aircraft and aircraft engines services. It operates through the following business segments: Leasing and Related Operations, and Spare Parts Sales. The Leasing and Related Operations segment leases aircraft, engines, and provides related services to a diversified group of commercial aircraft operators and maintenance, repair, and overhaul organizations. The Spare Parts Sales segment involves the purchase and resale of aftermarket engine parts, whole engines, engine modules and portable aircraft components. The company was founded by Charles F. Willis, IV in 1985 and is headquartered in Coconut Creek, FL.

Earnings data Q1 2024

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Willis Lease Finance Corp. engages in the provision of aviation services and operating leases of commercial aircraft, aircraft engines, and other aircraft-related equipment to air carriers, manufacturers, and overhaul/repair facilities. It also engages in the selective purchase and resale of commercial aircraft engines. It operates through the Leasing and Related Operations, and Spare Parts Sales. The Leasing and Related Operations segment acquires and leases commercial aircraft and aircraft engines, and the selective purchase and resale of commercial aircraft engines and other aircraft equipment and other related businesses. The Spare Parts Sales segment includes the purchase and resale of after-market engine parts, whole engines, engine modules, and portable aircraft components. The company was founded by Charles F. Willis, IV in 1985 and is headquartered in Coconut Creek, FL.

COCONUT CREEK, Fla., Aug. 04, 2022 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) today reported second quarter total revenues of $78.1 million. For the three months ended June 30, 2022, aggregate lease rent and maintenance reserve revenues were $60.9 million and spare parts and equipment sales were $6.8 million. The Company reported increased total revenues in the second quarter when compared to the prior year period, primarily due to an increase in lease rent revenue and short-term maintenance revenue.

Willis Lease Finance Corporation Reports Second Quarter Pre-tax Income of $11.0 million

Willis Lease Finance Corporation is a market leader with a broad collection of engines and international operations. WLFC stock is trading at half of its 2019 price due to the disruption caused by COVID-19.

Willis Finance Lease: Significant Upside Potential From Rate Hikes And Aviation Market Recovery

COCONUT CREEK, Fla., May 09, 2022 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) today reported first quarter total revenues of $68.8 million. For the three months ended March 31, 2022, aggregate lease rent and maintenance reserve revenues were $53.0 million and spare parts and equipment sales were $6.6 million. The Company reported increased total revenues in the first quarter when compared to the prior year period, primarily due to an increase in lease rent revenue and short-term maintenance revenue. Quarterly performance was negatively impacted by the effects of the Russian military action in Ukraine and related sanctions. In the first quarter, the Company recorded a $20.4 million impairment on two engines located in Russia, which are expected to be unrecoverable, and wrote down $0.9 million of receivables associated with Russian leases. Furthermore, through its joint venture Willis Mitsui & Company Engine Support Limited (“WMES”), the Company recorded an additional net impairment of $2.4 million, presented through loss from joint ventures, for one engine located in Russia, which is also expected to be unrecoverable.

Willis Lease Finance Corporation Reports First Quarter Pre-tax Loss of $27.7 Million

COCONUT CREEK, Fla., March 29, 2022 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ:WLFC) (“Willis Lease”) announced it has entered into lease agreements with Transportes Aéreos Guatemaltecos (TAG Airlines) (“TAG”) for four ATR 72-500 aircraft. The five-year deal sees the aircraft overhauled and refurbished, fitted with new Pratt & Whitney Canada PW127M engines.

Willis Lease Finance Corporation Signs Historic Regional Aircraft and Engine Deal

COCONUT CREEK, Fla., March 14, 2022 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) today reported annual total revenues of $274.2 million and pre-tax profit of $9.1 million. For the year ended December 31, 2021, aggregate lease rent and maintenance reserve revenues were $208.8 million and spare parts and equipment sales were $17.4 million. The Company reported increased total revenues in the fourth quarter when compared to the prior year period, primarily due to both an increase in lease rent revenue and gain on sale of leased equipment and financial assets, partially offset by a reduction in long-term maintenance revenue.

Willis Lease Finance Corporation Reports Annual Pre-tax Profit of $9.1 million

The WLFC Story Continues The WLFC Story Continues

Willis Lease Finance Corporation Announces Charles F. Willis as Executive Chairman and Austin C.

COCONUT CREEK, Fla., Nov. 02, 2021 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) today reported third quarter total revenues of $70.8 million and pre-tax profit of $6.1 million. For the three months ended September 30, 2021, aggregate lease rent and maintenance reserve revenues were $56.6 million and spare parts and equipment sales were $5.1 million. The Company reported increased total revenues in the third quarter when compared to the prior year period, primarily due to an increase in lease rent revenue and gain on sale of leased equipment partially offset by a reduction in long-term maintenance revenue.

Willis Lease Finance Corporation Reports Third Quarter Pre-tax Profit of $6.1 million

COCONUT CREEK, Fla., Oct. 26, 2021 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) (“Willis”), a leading lessor of commercial jet engines, is excited to announce they are joining the Hilton Grand Vacations 2021 Green Berets at Golden Bear charity golf tournament as Partner Force Sponsor. Proceeds of the tournament will exclusively benefit the Green Beret Foundation (“GBF”).

Willis Lease Finance Corporation Named Partner Force Sponsor for Green Beret Foundation Charity Event

COCONUT CREEK, Fla., Oct. 08, 2021 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) (“Willis”), a leading lessor of commercial jet engines, announced today its investment into its regional aviation business with the purchase of four ATR 72-500 aircraft from Investec Bank plc.

Willis Lease Finance Corporation Acquires Regional Aircraft

COCONUT CREEK, Fla., Aug. 03, 2021 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) today reported second quarter total revenues of $66.5 million and pre-tax loss of $1.9 million. For the three months ended June 30, 2021, aggregate lease rent and maintenance reserve revenues were $49.7 million and spare parts and equipment sales were $3.6 million. The Company reported lower revenue in the second quarter when compared to the prior year period, primarily due to the pandemic's impact on global travel and, consequently, worldwide fleet utilization.

Willis Lease Finance Corporation Reports Second Quarter Pre-tax Loss of $1.9 million

COCONUT CREEK, Fla., May 10, 2021 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) (“Willis”), a leading lessor of commercial jet engines, announced today that its wholly-owned subsidiary, Willis Engine Structured Trust VI (“WEST”), has priced $336.7 million in aggregate principal amount of fixed rate notes (the “Notes”). As previously announced, the Notes will be issued in three series, with the Series A Notes to be issued in an aggregate principal amount of $278.6 million, the Series B Notes in an aggregate principal amount of $38.7 million and the Series C Notes in an aggregate principal amount of $19.4 million. The Notes will be secured by, among other things, WEST's direct and indirect interests in a portfolio of 29 aircraft engines and one airframe. The planned closing date is May 17, 2021.

Willis Lease Announces Pricing of $336.7 Million in Fixed Rate Notes

COCONUT CREEK, Fla., May 04, 2021 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) today reported first quarter total revenues of $61.1 million and pre-tax loss of $1.7 million. The Company reported lower revenue in the first quarter when compared to the prior year period, primarily due to the impact of the COVID-19 pandemic. The slowdown in global travel continues to impact aircraft and engine utilization as well as demand for aircraft and engine spare parts. For the three months ended March 31, 2021, aggregate lease rent and maintenance reserve revenues were $51.3 million and spare parts and equipment sales were $4.6 million.

Willis Lease Finance Corporation Reports First Quarter Pre-tax Loss of $1.7 million

COCONUT CREEK, Fla., April 30, 2021 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) (“Willis”), a leading lessor of commercial jet engines, announced today that its wholly-owned subsidiary, Willis Engine Structured Trust VI (“WEST”), proposes to offer $336.7 million in aggregate principal amount of fixed rate notes (the “Notes”). It is expected that the Notes will be issued in three series, with the Series A Notes to be issued in an aggregate principal amount of approximately $278.6 million, the Series B Notes in an aggregate principal amount of approximately $38.7 million and the Series C Notes in an aggregate principal amount of approximately $19.4 million. The Notes will be secured by, among other things, WEST's direct and indirect interests in a portfolio of 29 aircraft engines and one airframe, which WEST will acquire from Willis pursuant to an asset purchase agreement.

Willis Lease Announces Offering of $336.7 Million in Fixed Rate Notes

COCONUT CREEK, Fla., March 15, 2021 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) today reported annual total revenues of $288.7 million and pre-tax profit of $17.3 million for the year ended December 31, 2020. The Company reported lower revenue in 2020 when compared to the prior year, primarily due to the impact of the COVID-19 pandemic. The slowdown in global travel has led to a reduction in aircraft and engine utilization as well as a reduction in demand for aircraft and engine spare parts which keep airline fleets in operation. For the year ended December 31, 2020, aggregate lease rent and maintenance reserve revenues were $248.3 million and spare parts and equipment sales were $18.6 million.

Willis Lease Finance Corporation Reports Annual Pre-tax Profit of $17.3 million

COCONUT CREEK, Fla., Feb. 01, 2021 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) ("Willis Lease") announced that it purchased twenty-five PW1100G-JM and PW1500G GTF™ aircraft engines from Pratt & Whitney, a division of Raytheon Technologies Corp. (NYSE: RTX), and an affiliate company in December 2020. The transaction also includes a long-term maintenance and support agreement with Pratt & Whitney and an affiliate company, enabling Willis Lease to offer engines maintained to the highest quality standard through Pratt & Whitney's GTF MRO network. The engines, together with associated maintenance, are valued at over $400 million.

Willis Lease Purchases 25 GTF™ Engines from Pratt & Whitney

Hedge Funds and other institutional investors have just completed filing their 13Fs with the Securities and Exchange Commission, revealing their equity portfolios as of the end of September. At Insider Monkey, we follow nearly 817 active hedge funds and notable investors and by analyzing their 13F filings, we can determine the stocks that they are collectively bullish on. One of their picks is Willis Lease Finance Corporation (NASDAQ:WLFC), so let's take a closer look at the sentiment that surrounds it in the current quarter.

Where Do Hedge Funds Stand On Willis Lease Finance Corporation (WLFC)?

COCONUT CREEK, Fla., Nov. 02, 2020 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) today reported third quarter total revenues of $70.6 million and pre-tax profit of $6.0 million. The Company reported lower revenue in the third quarter of 2020 as compared to the prior year period, primarily due to the impact of the COVID-19 pandemic. The slowdown in global travel has led to a reduction in aircraft and engine utilization as well as a reduction in demand for aircraft and engine spare parts which keep airline fleets in operation. For the third quarter of 2020, aggregate lease rent and maintenance reserve revenues were $62.3 million and spare parts sales were $2.9 million.

Willis Lease Finance Corporation Reports Third Quarter Pre-tax Profit of $6.0 million

COCONUT CREEK, Fla., Aug.  05, 2020  (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) today reported second quarter total revenues of $75.0 million and pre-tax profit of $9.7 million. The Company reported lower revenue in the second quarter of 2020 than the prior year period due primarily to the impact the COVID-19 pandemic has had on the aviation industry, generally, leading to reduced revenues in the core leasing business. Aggregate lease rent and maintenance reserve revenues were $68.4 million for the second quarter of 2020.

Willis Lease Finance Corporation Reports Second Quarter Pre-tax Profit of $9.7 million

COCONUT CREEK, Fla., Feb.  19, 2020  (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) (“Willis”), a leading lessor of commercial jet engines, announced today that its wholly-owned subsidiary Willis Engine Securitization Trust II, to be renamed Willis Engine Structured Trust V (“WEST”), has priced $366.2 million in aggregate principal amount of fixed rate notes (the “Notes”). As previously announced, the Notes will be issued in three series, with the Series A Notes to be issued in an aggregate principal amount of $303.0 million, the Series B Notes in an aggregate principal amount of $42.1 million and the Series C Notes in an aggregate principal amount of $21.1 million. The Notes will be secured by, among other things, WEST’s direct and indirect interests in a portfolio of 54 aircraft engines and three airframes. The planned closing date is March 3, 2020.

Willis Lease Finance Commits to Offering of $366.2 Million in Fixed Rate Notes

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COCONUT CREEK, Fla., Feb.  13, 2020  (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) (“Willis”), a leading lessor of commercial jet engines, announced today that its wholly-owned subsidiary, Willis Engine Securitization Trust II, to be renamed Willis Engine Structured Trust V (“WEST”) on or prior to the issuance date of the Notes, proposes to offer $366.2 million in aggregate principal amount of fixed rate notes (the “Notes”). It is expected that the Notes will be issued in three series, with the Series A Notes to be issued in an aggregate principal amount of approximately $303.0 million, the Series B Notes in an aggregate principal amount of approximately $42.1 million and the Series C Notes in an aggregate principal amount of approximately $21.1 million. The Notes will be secured by, among other things, WEST’s direct and indirect interests in a portfolio of 54 aircraft engines and three airframes, including 25 aircraft engines and three airframes which WEST will acquire from Willis pursuant to an asset purchase agreement. The remainder of the assets are currently owned by WEST.

Willis Lease Announces Offering of $366.2 Million in Fixed Rate Notes

COCONUT CREEK, Fla., Feb.  06, 2020  (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (Nasdaq: WLFC) announced today that it has entered into an agreement with Scandinavian Airline System (“SAS”) to manage the phase-out of SAS’s Boeing 737NG installed engine fleet over the next four years.

Willis Lease to Manage Phase-Out of Scandinavian Airline Systems’ 737NG Installed Engine Fleet

Use of blockchain to track aircraft parts could save the industry an estimated US$3.5B

Willis Lease Finance Corporation and Key Industry Partners  Launch MRO Blockchain Alliance

COCONUT CREEK, Fla., Jan.  16, 2020  (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (Nasdaq: WLFC) announced today that it has entered into a ConstantAccess™ agreement with Scandinavian Airlines System whereby the Company will guarantee availability of CFM56-5C engines to cover requirements due to both planned and unplanned removals of engines powering the airline's fleet of eight A340 aircraft.

SAS and Willis Lease Execute ConstantAccess Agreement Covering the Airline’s Airbus A340 Fleet

COCONUT CREEK, Fla., Jan.  08, 2020  (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) announced that it has placed an order with CFM International for up to sixty LEAP engines with a value of nearly $900 million at  list prices. This includes both firm and option orders for LEAP-1A and LEAP-1B engines, which the Company will use to support its customers operating Airbus A320neo and Boeing 737 MAX aircraft. These newly ordered engines will begin delivering in 2020 and add to the eight LEAP engines the Company currently owns.

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