Willis Lease(WLFC) GlobeNewswire·2024-12-19 18:45Core Insights - Willis Lease Finance Corporation has entered into a transaction with Pratt & Whitney to purchase nine new PW1133G-JM aircraft engines, valued at approximately $200 million, with all purchases expected to be completed by December 31, 2024 [1] - The PW1133G-JM engines offer up to 20% better fuel efficiency compared to previous generation engines and are certified for operation on 50% sustainable aviation fuel (SAF), having been successfully tested on 100% SAF [1] - This transaction is part of the company's strategy to provide modern and in-demand engines to airlines, enhancing their operational capabilities [2] Company Overview - Willis Lease Finance Corporation specializes in leasing large and regional spare commercial aircraft engines, auxiliary power units, and aircraft to various stakeholders in the aviation industry, including airlines and maintenance providers [4] - The company integrates its leasing activities with engine and aircraft trading, engine lease pools, and asset management services, along with end-of-life solutions for engines and aviation materials [4] - Service offerings include Part 145 engine maintenance, aircraft line and base maintenance, disassembly, parking and storage, and ground handling services [4]