Willis Lease Finance Corporation's Subsidiary Partners with Jet2.com for Aircraft Maintenance Services

Willis Aviation Services Limited partners with Jet2.com for aircraft maintenance, enhancing fleet safety and supporting UK aerospace jobs.

Quiver AI Summary

Willis Lease Finance Corporation announced that its subsidiary, Willis Aviation Services Limited, has signed a long-term General Terms Agreement with Jet2.com to conduct C Checks on Jet2’s B737NG aircraft at its facility in Teesside International Airport, UK. This partnership aims to enhance safety and performance for Jet2's fleet, reflecting the airline's commitment to operational excellence. WLFC's CEO, Austin C. Willis, emphasized the collaboration's role in providing high-quality MRO solutions while contributing to local economic growth and job creation in the UK aerospace sector. Jet2’s Director of Engineering & Maintenance echoed confidence in WASL's capabilities to maintain high standards for its aircraft operations.

Potential Positives

• The long-term General Terms Agreement with Jet2.com positions Willis Aviation Services Limited as a key MRO provider for a major airline, potentially increasing revenue stability.
• This partnership enhances the company's reputation by associating it with Jet2, a respected airline known for its focus on safety and operational excellence.
• The agreement signifies a commitment to creating skilled jobs and fostering economic growth in the UK aerospace industry, highlighting corporate social responsibility.

Potential Negatives

• The mention of numerous risks and uncertainties in the forward-looking statements indicates potential volatility and challenges in the company's operations and market environment.
• The reliance on a single major contract with Jet2.com may expose WLFC to significant risk if the partnership does not meet expectations or if Jet2's operational conditions change.
• The press release does not provide information on how the company plans to mitigate the various economic factors and risks outlined, potentially raising concerns about its preparedness for adverse conditions.

FAQ

What is the significance of the agreement between Willis Aviation Services Limited and Jet2.com?

The agreement allows WASL to perform C Checks on Jet2's B737NG aircraft, enhancing safety and reliability in operations.

Where will the maintenance services be conducted for Jet2's aircraft?

The heavy base maintenance services will be delivered at WASL's facility at Teesside International Airport in Northeastern England.

Who will benefit from the partnership between WASL and Jet2?

This partnership supports Jet2’s fleet operations, fosters local economic growth, and creates skilled jobs in the UK aerospace industry.

What services does Willis Lease Finance Corporation offer?

WLFC provides commercial aircraft engine leasing, MRO services, engine repair, asset management, and various aviation solutions globally.

How does this agreement align with Jet2's operational goals?

Jet2 aims to maintain the highest standards of safety and performance, and this collaboration with WASL supports that commitment.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$WLFC Insider Trading Activity

$WLFC insiders have traded $WLFC stock on the open market 86 times in the past 6 months. Of those trades, 0 have been purchases and 86 have been sales.

Here’s a breakdown of recent trading of $WLFC stock by insiders over the last 6 months:

• AUSTIN CHANDLER WILLIS (Chief Executive Officer) has traded it 6 times. They made 0 purchases and 6 sales, selling 3,450 shares.
• RAE ANN MCKEATING has traded it 3 times. They made 0 purchases and 3 sales, selling 1,000 shares.
• SCOTT B. FLAHERTY (EVP, CFO) has traded it 4 times. They made 0 purchases and 4 sales, selling 20,000 shares.
• CHARLES F IV WILLIS (Executive Chairman) has traded it 49 times. They made 0 purchases and 49 sales, selling 90,700 shares.
• BRIAN RICHARD HOLE (PRESIDENT) has traded it 4 times. They made 0 purchases and 4 sales, selling 24,312 shares.
• ROBERT J. KEADY has traded it 20 times. They made 0 purchases and 20 sales, selling 25,114 shares.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$WLFC Hedge Fund Activity

We have seen 46 institutional investors add shares of $WLFC stock to their portfolio, and 31 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• M3F, INC. removed 52,500 shares (-8.4%) from their portfolio in Q3 2024
• PEKIN HARDY STRAUSS, INC. added 29,791 shares (+inf%) to their portfolio in Q3 2024
• AMERICAN CENTURY COMPANIES INC added 24,157 shares (+inf%) to their portfolio in Q3 2024
• PHASE 2 PARTNERS, LLC removed 17,965 shares (-25.5%) from their portfolio in Q3 2024
• ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 16,206 shares (+inf%) to their portfolio in Q3 2024
• CHARLES SCHWAB INVESTMENT MANAGEMENT INC added 14,590 shares (+173.7%) to their portfolio in Q3 2024
• FIRST TRUST ADVISORS LP added 9,929 shares (+inf%) to their portfolio in Q3 2024

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Full Release

COCONUT CREEK, Fla., Jan. 08, 2025 (GLOBE NEWSWIRE) --

Willis Lease Finance Corporation

(NASDAQ: WLFC) (“WLFC” or the “Company”), the leading lessor of commercial aircraft engines and global provider of aviation services, announces its subsidiary, Willis Aviation Services Limited (“WASL”), a leading aircraft maintenance, repair and overhaul (“MRO”) provider, has entered into a long-term General Terms Agreement (“GTA”) and volume commitment with leading leisure airline Jet2.com (“Jet2”) to perform C Checks on Jet2’s B737NG aircraft.

Leveraging its expertise and advanced capabilities, WASL will deliver these heavy base maintenance services at its growing state-of-the-art facility at Teesside International Airport in Northeastern England. This strategic collaboration underscores Jet2’s commitment to ensuring the highest standards of safety, reliability, and superior performance across its aircraft operations.

“We’re excited to partner with Jet2.com, a respected airline known for its customer focus and operational excellence,” said Austin C. Willis, WLFC’s Chief Executive Officer. “This agreement highlights our commitment to delivering premier MRO solutions while supporting Jet2’s fleet, fostering local economic growth and creating skilled jobs in the UK aerospace industry.”

“At Jet2, safety and reliability are at the heart of everything we do,” said Chris Hubbard, Director of Engineering & Maintenance at Jet2.com. “We are confident that Willis Aviation Services Limited’s proven capability and commitment to quality will ensure our fleet continues to meet the highest standards, enabling us to continue delivering an exceptional experience to our customers.”

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. 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 to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. 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, terrorist activity and the COVID-19 pandemic; 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 and current reports filed with the Securities and Exchange Commission. It is advisable, however, to consult any further disclosures the Company makes on related subjects in such filings. These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.

A photo accompanying this announcement is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/516a02a3-6597-404b-9d51-2ce757dd77ad

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.