Willis Lease Stock Price, News & Analysis

Willis Lease Finance (NASDAQ: WLFC) reported exceptional financial results for 2024, with total revenues reaching $569.2 million and pre-tax income of $152.6 million. The company achieved record-high aggregate core lease rent and maintenance reserve revenues of $452.1 million, marking a 30.4% increase from 2023's $346.8 million.

Key financial highlights include:

• Lease rent revenue increased 11.8% to $238.2 million
• Maintenance reserve revenue grew 60% to $213.9 million
• Spare parts and equipment sales rose to $27.1 million
• Gain on sale of leased equipment reached $45.1 million

The company's lease portfolio value expanded to $2,872.3 million by December 31, 2024, comprising 354 engines, 16 aircraft, one marine vessel, and other equipment. WLFC secured a new five-year, $1.0 billion credit facility in October 2024, and maintained its quarterly dividend of $0.25 per share. Diluted earnings per share reached $15.34, with book value per share increasing to $80.74.

Willis Lease Finance (NASDAQ: WLFC) has exercised purchase options for 30 new LEAP engines from CFM International, expanding its commercial aircraft engine leasing portfolio. The order includes LEAP-1A engines for Airbus A320neo family aircraft and LEAP-1B engines for Boeing 737 MAX aircraft, with delivery dates pending determination.

This purchase stems from a 2019 order option and strengthens WLFC's ability to provide flexible support to operators of these popular engine and aircraft types. The company's CEO, Austin C. Willis, emphasized that this investment reinforces their vision of connecting the world through sustainable flight by providing advanced and efficient solutions.

WLFC's business model integrates engine and aircraft trading, lease pools, and asset management services through various subsidiaries, including maintenance, repair, and overhaul services, as well as airport FBO and ground handling services.

Willis Lease Finance (NASDAQ: WLFC) has scheduled its fourth quarter and full year 2024 financial results announcement for March 10, 2025. The company will host a conference call on the same day at 10:00 a.m. Eastern Standard Time, featuring WLFC's executive management team.

Participants can join the call using the following dial-in numbers: US and Canada (877) 612-6725, International +1 (646) 828-8082, with Conference ID 808553. A digital replay will be available two hours after the call on the company's website. The earnings supplement will be posted to WLFC's Investor Relations section prior to the call.

WLFC specializes in leasing commercial aircraft engines, auxiliary power units, and aircraft to global airlines, manufacturers, and maintenance providers. The company offers additional services through its subsidiaries, including engine trading, lease pools, asset management, maintenance, and various aviation-related solutions.

Willis Aviation Services (WASL), a subsidiary of Willis Lease Finance (NASDAQ: WLFC), has secured a long-term General Terms Agreement with TUI Airways for base maintenance services on TUI's narrowbody aircraft fleet. The partnership will initially focus on two Boeing 737NG maintenance checks at WASL's facility at Teesside International Airport in Northeastern England.

The collaboration aims to provide comprehensive MRO solutions while supporting local economic development through job creation in the UK aerospace industry. WASL will leverage its specialized knowledge to conduct thorough base maintenance services for TUI's aircraft.

Willis Lease Finance (NASDAQ: WLFC) has announced a quarterly dividend of $0.25 per share on its outstanding common stock. The dividend will be paid on February 21, 2025, to stockholders of record as of February 12, 2025.

This marks the company's third consecutive quarterly dividend since June 2024, reflecting the strength of its business model. WLFC operates in commercial aircraft engine leasing, providing engines, auxiliary power units, and aircraft to airlines, manufacturers, and maintenance providers globally. The company's services include engine trading, lease pools, asset management, maintenance, and various aviation-related solutions.

Willis Lease Finance (NASDAQ: WLFC) announces its subsidiary, Willis Aviation Services (WASL), has secured a long-term General Terms Agreement with Jet2.com, the UK's third-largest airline, for B737NG aircraft maintenance services. The agreement focuses on performing C Checks at WASL's facility at Teesside International Airport in Northeastern England.

This strategic partnership emphasizes Jet2's commitment to maintaining high safety and reliability standards across its fleet operations. The collaboration is expected to contribute to local economic growth and create skilled employment opportunities in the UK aerospace industry. WASL will leverage its advanced capabilities and expertise to deliver heavy base maintenance services at its state-of-the-art facility.

Willis Lease Finance (NASDAQ: WLFC) has announced a significant transaction with Pratt & Whitney for the purchase of nine new PW1133G-JM aircraft engines, valued at approximately $200 million. The purchase is expected to be completed by December 31, 2024.

The GTF engines offer up to 20% improved fuel efficiency compared to previous generation engines and are certified for operation on 50% sustainable aviation fuel (SAF), with successful testing on 100% SAF. This investment strengthens WLFC's position in providing modern, fuel-efficient engines for A320 aircraft operators.

Willis Lease Finance (NASDAQ: WLFC) has appointed Stephen Jones to its Board of Directors, effective January 1, 2025. Jones brings 40 years of experience in airline and energy industries, including significant roles at Air New Zealand, Wizz Air, and Flair Airlines. His career highlights include serving as Deputy CEO of Wizz Air and CEO of Flair Airlines, where he established Canada's first true Ultra-Low-Cost Carrier.

The appointment coincides with the resignation of Rae Ann McKeating from the Board, effective December 31, 2024. McKeating served as Chair of the Compensation Committee. Jones holds a Bachelor of Mechanical Engineering from the University of Auckland and has extensive experience in operational, commercial, and financial roles within the aviation industry.

Willis Lease Finance (NASDAQ: WLFC) announces its subsidiary, Willis Sustainable Fuels (UK) , has entered into a master services agreement with McDermott for early engineering, procurement and construction services for its Sustainable Aviation Fuel (SAF) initiative. The project includes a first planned SAF facility in Teesside with a capacity of 50,000 litres per day, supported by the UK Government's Advanced Fuels Fund. The facility will produce next-generation SAF using either Biogas-to-Liquid or Power-to-Liquid technology. The parties plan to enter into sole-source EPC scope negotiation in 2025.