Willis Lease Finance Corporation (WLFC) has announced financial results for the second quarter (Q2 2025) ended June 30, 2025, posting total revenue of US$195.5 million, an increase of 29.4% compared with US$151.1 million for the same period in 2024. The company highlighted that this was its strongest quarter ever, reflecting robust leasing demand, strong utilisation and increased recurring revenues.
Core lease rent and maintenance reserve revenues reached US$123.0 million, up 4% from US$118.8 million in Q2 2024. This growth was driven by continued strength in the aviation market as airlines sought cost-efficient leasing and maintenance solutions to reduce expensive engine shop visits.
Short-term maintenance revenues generated by engines on lease with “non-reimbursable” usage fees rose to US$50.2 million, up 9.5% from US$45.9 million in the prior year. The increase was attributed to a higher number of engines under short-term leasing and systematic increases in contractual usage rates.
Sales of spare parts and equipment surged to US$30.4 million from US$6.2 million a year earlier, including US$21.1 million from the sale of one engine. Spare parts sales alone increased 49.3%, reflecting rising demand for surplus material as operators extend the service life of their current-generation engine fleets.
The quarter also saw a gain of US$27.6 million from the sale of leased equipment, including 14 engines, two airframes and additional components, compared to a US$14.4 million gain from seven engines and eight airframes sold in Q2 2024. In addition, WLFC completed the sale of its UK aviation consultancy, Bridgend Asset Management Limited, to its WMES joint venture, recording a gain of approximately US$43.0 million.
As of June 30, 2025, the book value of lease assets, including equipment for operating lease, maintenance rights, notes receivable and investments in sales-type leases, stood at US$3.25 billion.
