Willis Lease Finance Corporation Completes Delivery of 4th ATR 72-500 Aircraft under its ConstantThrust® Engine Maintenance Program
COCONUT CREEK, Fla., March 21, 2024 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) (“WLFC”) announces it has successfully delivered its fourth ATR 72-500 aircraft to Transportes Aéreos Guatemaltecos (TAG Airlines) (“TAG”) as part of its lease agreements with the airline for four ATR 72-500 aircraft. The aircraft were overhauled and refurbished and fitted with new Pratt & Whitney Canada PW127M engines.
Under the lease agreements, the aircraft are included in WLFC’s ConstantThrust® program for PW127M engines. WLFC will oversee the maintenance and care for the engines and will provide replacement engines as applicable. “We are thrilled to support TAG, our first regional ConstantThrust® airline partner, with a fourth aircraft delivery,” said Austin C. Willis, Chief Executive Officer of WLFC. “We value the relationship we continue to build with TAG, as it expands its service in Central America.”
WLFC provides unique leasing solutions and programs to its global large-fan and regional airline customers to help them navigate today’s complex engine maintenance and supply chain issues, reducing maintenance costs while providing predictability to keep its customers flying.
Willis Lease Finance Corporation
Willis Lease Finance Corporation (“WLFC”) leases large and regional spare commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repair, and overhaul providers worldwide. These leasing activities are integrated with engine and aircraft trading, engine lease pools and asset management services through Willis Asset Management Limited, as well as various end-of-life solutions for engines and aviation materials provided through Willis Aeronautical Services, Inc. Additionally, through Willis Engine Repair Center®, Jet Centre by Willis, and Willis Aviation Services Limited, the company’s service offerings include Part 145 engine maintenance, aircraft line and base maintenance, aircraft disassembly, parking and storage, airport FBO and ground and cargo handling services.
Except for historical information, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties. Do not unduly rely on forward-looking statements, which give only expectations about the future and are not guarantees. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include, but are not limited to: the effects on the airline industry and the global economy of events such as war, and terrorist activity; changes in oil prices, rising inflation and other disruptions to world markets; trends in the airline industry and our ability to capitalize on those trends, including growth rates of markets and other economic factors; risks associated with owning and leasing jet engines and aircraft; our ability to successfully negotiate equipment purchases, sales and leases, to collect outstanding amounts due and to control costs and expenses; changes in interest rates and availability of capital, both to us and our customers; our ability to continue to meet changing customer demands; regulatory changes affecting airline operations, aircraft maintenance, accounting standards and taxes; the market value of engines and other assets in our portfolio; and risks detailed in the company’s Annual Report on Form 10-K and other continuing reports filed with the Securities and Exchange Commission.
| CONTACT: | Lynn Mailliard Kohler |
| Manager Corporate Communications | |
| 415.328.4798 |
