Willis Lease Finance earns US$2.3m in 1Q2015

Willis Lease Finance Corporation (WLFC), an independent jet engine lessor in the commercial finance sector, reported first quarter 2015 net income of US$2.3m, or $0.29 per diluted share, compared to net loss of $0.03 per diluted share in the fourth quarter of 2014 and net income of US$4.3m, or $0.53 per diluted share, in the first quarter of 2014. A major highlight during the first quarter involved Willis Lease entering into an engine lease support agreement with Southwest Airlines, to provide long-term lease support to Southwest for twenty-two CFM56-7B24 spare aircraft engines over the course of the next five years. The first two engines to be leased under this agreement have now been delivered. “I’m very proud of the work our team did to put this transaction together, and it’s an outstanding achievement to have been selected by Southwest for this program,” said Willis.