Willis Lease Finance reports 66% increase in first quarter net income

Willis Lease Finance Corporation reported a 66% year-over- year increase in first quarter net income and an 89% increase in net earnings applicable to common shareholders. Net income increased to $5.1 million in the first quarter of 2011, up from $4.0 million in the fourth quarter of 2010 and $3.1 million in the first quarter a year ago. After payment of preferred dividends, net income available to common shareholders was $4.3 million up from $3.2 million in the fourth quarter of 2010.