Third Largest Airline in the UK Partners with Willis to Ensure Continued Fleet Reliability
COCONUT CREEK, Fla., Jan. 08, 2025(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.
| CONTACT: | Lynn Mailliard Kohler |
| Manager Corporate Communications | |
| (415) 328-4798 |
A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/516a02a3-6597-404b-9d51-2ce757dd77ad
