Willis Lease Finance Corporation has reported third-quarter total revenues of US$70.8 million and pre-tax profit of US$6.1 million. For the three months ended September 30, 2021, aggregate lease rent and maintenance reserve revenues were US$56.6 million and spare parts and equipment sales were US$5.1 million. The company reported increased total revenues in the third quarter when compared to the prior year period, primarily due to an increase in lease rent revenue and gain on sale of leased equipment partially offset by a reduction in long-term maintenance revenue.
“We are encouraged to see some of the early stages of a recovery reflected in our improved quarterly performance,” said Charles F. Willis, Chairman and CEO. “While we are still a long way from a pre-COVID environment and many hurdles still exist on that path, we are pleased to see our customers beginning to use the equipment they have more and increasingly requesting additional support. The aviation industry is important to the global recovery, and we are proud to be part of it.”