Willis Lease Finance Corporation (WLFC) has announced a significant transaction with Pratt & Whitney for the purchase of nine new PW 1133G-JM aircraft engines. All acquisitions were set to be completed by December 31, 2024.
The PW1133G-JM, part of Pratt & Whitney's GTF-engine family, offers cutting-edge technology with up to 20% better fuel efficiency compared to older-generation engines. These engines are certified to operate on a 50% blend of sustainable aviation fuel (SAF) and have successfully undergone testing with 100% SAF, highlighting their potential for a more sustainable aviation future.
Valued at approximately US$200 million, based on Pratt & Whitney's 2024 list prices, this transaction marks a pivotal step for WLFC in providing airlines with modern, efficient, and environmentally friendly engines. By investing in these advanced engines, WLFC aims to meet the growing demand for sustainable and fuel-efficient solutions in the aviation sector, while ensuring its airline customers can maintain and enhance the performance of their A320 aircraft fleets.
Austin C. Willis, WLFC's Chief Executive Officer, expressed his enthusiasm for the deal: “We are thrilled to deepen our partnership with Pratt & Whitney as we continue to invest in cutting-edge, fuel-efficient engines that deliver environmental benefits. This collaboration aligns perfectly with our growth strategy and will help our customers keep their A320 aircraft flying for the foreseeable future.”
As a business of RTX, Pratt & Whitney continues to lead the way in sustainable aviation technologies. This deal reinforces WLFC's commitment to modernising its engine portfolio and supporting the industry's transition to greener operations.
