Welcome to our dedicated page for Willis Lease news (Ticker: WLFC), a resource for investors and traders seeking the latest updates and insights on Willis Lease stock.
Willis Lease Finance Corporation (NASDAQ: WLFC) is described in its own news releases as the leading lessor of commercial aircraft engines and a global provider of aviation services. The WLFC news feed on this page brings together company-issued announcements and market updates that explain how the business evolves across engine leasing, aviation services, asset management and financing.
Readers following WLFC news can expect regular coverage of aircraft engine leasing initiatives, including partnerships with institutional investors such as Blackstone Credit & Insurance and Liberty Mutual Investments. These stories outline how Willis Lease Finance Corporation structures engine leasing partnerships, credit strategies and managed funds to support airlines, engine manufacturers and MRO providers worldwide.
News items also highlight developments in the company’s integrated services platform, including activities at Willis Engine Repair Center®, Willis Aeronautical Services, Willis Aviation Services Limited and other affiliated entities. Announcements may cover maintenance, repair and overhaul (MRO) capacity expansions, such as the long-term land lease at Teesside International Airport in Northeastern England, as well as updates on engine materials, aircraft disassembly, parking and storage, and airport FBO and ground and cargo handling services.
In addition, WLFC regularly reports on capital markets transactions and corporate actions, including asset-backed note offerings through Willis Engine Structured Trust IX, new or amended credit facilities, joint venture financing arrangements, quarterly financial results and dividend declarations. Investors and aviation professionals can use this news page to follow how Willis Lease Finance Corporation manages its engine and aircraft portfolio, grows its asset management business through Willis Aviation Capital and responds to trends in aviation leasing and maintenance. Bookmark this page to access an organized view of WLFC’s latest press releases and SEC-related news disclosures.
Willis Lease Finance Corporation (NASDAQ: WLFC) announced the pricing of $336.7 million in fixed-rate notes through its subsidiary, Willis Engine Structured Trust VI (WEST). The notes include Series A ($278.6 million, 3.104% coupon), Series B ($38.7 million, 5.438% coupon), and Series C ($19.4 million, 7.385% coupon). The notes will be secured by a portfolio of 29 aircraft engines and one airframe. The closing date is set for May 17, 2021. These notes are targeted at qualified institutional buyers and will not be registered under the Securities Act of 1933.
Willis Lease Finance Corporation (NASDAQ: WLFC) reported first quarter revenues of $61.1 million, a 25.1% decrease year-over-year. The company faced a pre-tax loss of $1.7 million, primarily due to the ongoing impact of the COVID-19 pandemic on global travel. Lease rent and maintenance reserve revenues totaled $51.3 million. Despite challenges, the company is innovating with new financing products and maintaining $183 million in undrawn revolver capacity. The book value per diluted share increased to $62.12.
Willis Lease Finance Corporation (NASDAQ: WLFC) announced a proposed offering of $336.7 million in fixed rate notes through its subsidiary, Willis Engine Structured Trust VI (WEST). The notes will be issued in three series: Series A ($278.6 million), Series B ($38.7 million), and Series C ($19.4 million), secured by a portfolio of 29 aircraft engines and one airframe. Proceeds will be used for issuance expenses and compensating Willis for the acquired assets. The notes are not registered under the Securities Act and will be offered to qualified institutional buyers only.
Willis Lease Finance Corporation (NASDAQ: WLFC) successfully closed its inaugural transaction using its new revolving credit lease (RCL) financing product with Scandinavian Airlines System (SAS). The RCL will finance CFM LEAP and Trent XWB engines for SAS's A320neo and Airbus A350 aircraft, enhancing liquidity and flexibility for airlines. This innovative product combines aspects of traditional leasing and revolving loans, aimed at addressing the current financing gap for advanced engine technologies. Willis Lease emphasizes its role as a leader in engine leasing and innovation.
Willis Lease Finance Corporation (NASDAQ: WLFC) reported a 29.4% decline in total revenues for 2020, totaling $288.7 million, with a pre-tax profit of $17.3 million. The downturn is attributed to the COVID-19 pandemic's impact on global travel, leading to reduced aircraft utilization and demand for spare parts. Lease rent revenue stood at $142.9 million, while maintenance reserve revenue decreased by 3.3% to $105.4 million. The company maintained $223 million of undrawn revolver capacity by year-end, and book value per share rose to $59.40.
Willis Lease Finance Corporation (NASDAQ: WLFC) announced the acquisition of 25 PW1100G-JM and PW1500G GTF™ aircraft engines from Pratt & Whitney, valued at over $400 million. This purchase includes a long-term maintenance agreement, enhancing their engine delivery capabilities through a 'just in time' model. The transaction supports the company’s ConstantAccess™ program, catering to airline demands for timely engine availability. Willis Lease operates globally, leasing engines and aircraft while providing asset management services.
Willis Lease Finance Corporation (NASDAQ: WLFC) reported Q3 2020 revenues of $70.6 million, reflecting a 41.3% decline from Q3 2019's $120.4 million, largely due to COVID-19's impact on the aviation industry. Pre-tax profit stood at $6.0 million, down from $31.1 million a year earlier. Lease and maintenance reserve revenues totaled $62.3 million, while spare parts sales dropped to $2.9 million from $24.4 million. Despite challenges, the company's liquidity and innovative solutions position it to navigate the evolving market.
Willis Lease Finance Corporation (NASDAQ: WLFC) reported second quarter 2020 revenues of $75.0 million, a 21.7% decrease from $95.8 million in 2019, primarily due to COVID-19's impacts on the aviation industry. The company maintained a pre-tax profit of $9.7 million. Lease rent revenue totaled $38.5 million, while maintenance reserve revenue increased by 13.3% to $30.0 million. Despite challenges, WLFC sustained its balance sheet strength and liquidity, managing 402 engines and holding $1.654 billion in operating lease assets.
Willis Lease Finance Corporation (NASDAQ: WLFC) reported a pre-tax profit of $8.5 million and total revenues of $81.6 million for Q1 2020, reflecting a 21.4% decrease from $103.8 million in Q1 2019. The decline was mainly driven by reduced asset usage and spare parts sales due to lower global flight traffic. Lease rent revenue stood at $46.4 million, while maintenance reserve revenue fell by 19% to $20.5 million. Despite profitability, the company faces ongoing challenges from the COVID-19 pandemic affecting its lessee customers. The equipment held for operating lease increased to $1.698 billion.