Willis Lease Finance Corporation has reported pre-tax profit of US$27.8 million and total revenues of US$103.8 million in the first quarter of 2019. The Company’s first quarter 2019 pre-tax results were driven by continued revenue growth in the core leasing business, an increase in trading activity and continuing spare parts sales. Aggregate lease rent and maintenance reserve revenues were US$73.7 million for the first quarter of 2019.
Total revenue increased by 47.2% to $103.8 million in the first quarter of 2019, compared to US$70.5 million in the same quarter of 2018.
Lease rent revenue achieved a record quarterly high of US$48.4 million in the first quarter of 2019; 22.0% growth from US$39.6 million in the same quarter of 2018.
Quarterly Maintenance reserve revenue increased by US$9.9 million, or 64.2%, to US$25.4 million in the first quarter of 2019, compared to US$15.4 million in the prior year period.
Spare parts and equipment sales increased by 34.8% to US$17.5 million in the first quarter of 2019, compared to US$13.0 million in the same quarter of 2018.
