Willis Lease Finance reports record earnings per share of $1.66 in 2007

Willis Lease Finance Corporation, a leading lessor of commercial jet engines, reported that strong demand for leased engines and high utilization of its growing engine portfolio contributed to 24% lease rent revenue growth and record earnings per share in 2007 on total revenues of $121.9 million, a 15% increase over the prior year. Willis Lease generated net income available to common stockholders of $14.5 million, or $1.66 per diluted share, compared to $14.9 million, or $1.56 per diluted share, in 2006. The strong financial performance was reported despite the inclusion of a non-cash debt extinguishment charge of $2.7 million in the year, which reduced net income by $0.19 per diluted share in 2007.