Willis Lease inks 19 engine sale and leaseback deal with Scandinavian Airlines

Willis Lease Finance Corporation (WLFC), a leading lessor of commercial jet engines, has entered into a transaction to purchase and leaseback a total of 19 jet engines with SAS Group subsidiary Scandinavian Airlines (SAS). Willis Lease will purchase 11 of the engines and Dublin-based Willis Mitsui & Co Engine Support Limited will purchase the remaining 8 engines. The purchase leaseback transaction is valued at approximately $120m and is scheduled to be completed by the middle of March.