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) reported strong financial results for 2022, with total revenues reaching $311.9 million and a pre-tax income of $9.8 million.
Key highlights include a 20.6% increase in lease rent revenue to $162.6 million, driven by a greater number of engines leased and improved utilization. Maintenance reserve revenue rose 12.8% to $83.4 million, while short-term maintenance revenue surged to $47.4 million from $17.7 million in the previous year, reflecting a rebound in global flight traffic.
The company's book value per diluted share increased to $64.27, up from $59.23 in 2021.
Willis Lease Finance Corporation (NASDAQ: WLFC) announced the expansion of its UK subsidiary, Willis Aviation Services Limited (WASL), to include UK CAA base maintenance approvals for multiple aircraft, including the Airbus A320 family and Boeing 737NG. This development enhances WLFC’s existing maintenance capabilities at Teesside International Airport, showcasing its vertical integration in the engine and aircraft MRO services. Senior Vice President Garry Failler highlighted that this approval adds significant value to the Willis Platform and its customer base.
Willis Lease Finance Corporation (NASDAQ: WLFC) reported Q3 2022 revenues of $76.9 million, up from the previous year, with pre-tax earnings of $8.4 million. Key drivers included a 20.1% increase in lease rent revenue, totaling $39.5 million. However, maintenance reserve revenue fell 13.6% to $20.4 million. Spare parts sales rose to $7.0 million, reflecting stronger industry demand. Book value per share improved to $64.28. Despite growth, the company remains cautious amid macroeconomic risks.
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.
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