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Willis Lease Finance (WLFC) reported record first quarter total revenues of $119.1 million with pre-tax income of $29.9 million. The growth was driven by core lease and maintenance revenues, reflecting a strong aviation marketplace. WLFC continues to be the partner of choice for airlines seeking maintenance services. The company saw an increase in maintenance reserve revenue and short-term maintenance revenues. Despite a decrease in spare parts sales, WLFC experienced a gain on the sale of leased equipment. Diluted weighted average income per common share and book value per diluted weighted average common share outstanding also showed positive growth.
Willis Lease Finance closed a $21 million financing deal for a CFM LEAP-1B28 engine, marking its third engine-backed Japanese operating lease with call option transaction. The company views the JOLCO market as a strategic opportunity to enhance its asset portfolio and secure capital from global markets. This move demonstrates WLFC's ability to access competitive financing rates and provide appealing lease and loan options to its clients.
