Willis Lease Stock Price, News & Analysis

Willis Lease Finance Corporation (NASDAQ: WLFC) has announced a rebranding initiative to unify its multiple business units, reflecting its expanded service offerings. The new branding, revealed at Aviation Week MRO Europe on October 18, 2022, aims to communicate that WLFC provides more than just leasing services. The company has broadened its portfolio to include engine maintenance, aircraft storage, and ground handling services, with $2 billion in assets as of June 30, 2022. CEO Austin C. Willis emphasized the need for the industry to recognize WLFC's full range of expertise.

Willis Lease Finance Corporation (NASDAQ: WLFC) has finalized a sale and leaseback agreement with Air India for 34 CFM56-5B engines, supporting their Airbus A320 family aircraft. This landmark deal marks the first time an Indian carrier has engaged in such a transaction under Willis Lease's ConstantThrust® program, promising enhanced reliability and cost savings. Air India aims to reduce maintenance uncertainties and enhance operational efficiency while minimizing costs through this innovative arrangement. Willis Lease will also provide logistical support through its dedicated team.

Willis Lease Finance Corporation (NASDAQ: WLFC) announced that its subsidiary, Willis Asset Management Limited, will serve as the dedicated aircraft CAMO provider for Peach Aviation Limited. This role supports A320 aircraft redeliveries across various MRO facilities in Asia and Europe. The agreement highlights Willis Asset's extensive asset management capabilities, offering tailored and efficient solutions for airlines and lessors. CEO Austin C. Willis emphasized their readiness to meet customer demands, given their experience in fleet transitions and technical management.

Willis Lease Finance Corporation (NASDAQ: WLFC) reported total revenues of $78.1 million for Q2 2022, marking an increase driven by higher lease rentals and maintenance reserves. Lease rent revenue rose by 13.2% to $36.7 million, and maintenance reserve revenue surged by 40.3% to $24.2 million compared to Q2 2021. The company achieved pre-tax profit of $11.0 million, a significant recovery from a $(1.9) million loss in the prior year. Despite challenges from the Russian crisis and the pandemic, WLFC demonstrated resilience with improved spare parts sales and strategic share repurchase initiatives.

Willis Lease Finance Corporation (NASDAQ: WLFC) reported Q1 2022 total revenues of $68.8 million, marking an increase from last year, primarily driven by a rise in lease rent revenues of 21% to $38.1 million. However, the company faced significant challenges due to the Russian military action in Ukraine, incurring a $20.4 million impairment on two engines in Russia. Core operations improved as customer activity recovered post-pandemic, yet maintenance reserve revenue declined by 25.1% to $14.8 million. The net income was adversely impacted by asset write-downs, demonstrating the mixed results of the quarter.

Willis Lease Finance Corporation (NASDAQ:WLFC) announced lease agreements with Transportes Aéreos Guatemaltecos (TAG Airlines) for four ATR 72-500 aircraft. This five-year deal includes overhauled aircraft fitted with new Pratt & Whitney PW127M engines, enhancing the value proposition for TAG. CEO Austin C. Willis emphasized a strategic focus on growth through procurement rather than traditional leasebacks. The aircraft are noted for their efficiency and a passenger capacity of 74. The agreement also incorporates TAG into the ConstantThrust™ program, providing enhanced maintenance support.

Willis Lease Finance Corporation (NASDAQ: WLFC) announced 2021 total revenues of $274.2 million, down 5% from $288.7 million in 2020. Pre-tax profit was reported at $9.1 million. Fourth-quarter revenue increased by 23.3% from the previous year, driven by higher lease rent revenue and gains from leased equipment sales. However, long-term maintenance revenue fell by 29.8% to $74 million. The company’s aggregate lease assets grew to $2.1 billion, while diluted earnings per share decreased to $0.00 compared to $1.05 in 2020. The firm repurchased 268,408 shares for $10.1 million.

Willis Lease Finance Corporation (NASDAQ: WLFC) announces the appointment of Austin C. Willis as the new CEO, effective April 1, 2022. He succeeds Charles F. Willis, who becomes Executive Chairman. Austin has extensive experience in aviation, having served as SVP of Corporate Development at Willis Lease since 2017 and as its Board member since 2008. His background includes founding J.T. Power LLC and military service as a Green Beret. The transition aims to leverage Austin's knowledge and leadership skills for navigating market challenges and opportunities.

Willis Lease Finance Corporation (NASDAQ: WLFC) reported third quarter revenues of $70.8 million with a pre-tax profit of $6.1 million. Lease rent revenue rose to $32.9 million, up from $30.0 million year-over-year, while maintenance reserve revenue fell 26.8% to $23.7 million. Spare parts and equipment sales surged to $5.1 million from $2.9 million in the prior year. The company's total lease assets grew 22.0% year-over-year to $2,167.4 million. Despite improvements, the aviation industry faces challenges in recovery.