NOVATO, Calif., Jan. 16, 2014 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (Nasdaq:WLFC), the premier independent jet engine lessor in the commercial finance sector, today reported it closed 2013 with one of the strongest months of new leasing activity in the company's history.
"We ended 2013 by purchasing six brand new engines for over $75 million and closing new lease agreements for 19 engines, making December one of the most productive months we've ever had," said Charles F. Willis, Chairman and CEO. "Excluding two off-lease engines purchased just prior to year-end, our portfolio utilization reached 87%, which represents significant improvement over the preceding quarter-end level of 85%, and the highest level of 2013. While this year-end activity will have little impact on 2013 financial results, it is a great way to launch 2014."
December 2013 Leasing Highlights:
About Willis Lease Finance
Willis Lease Finance Corporation leases spare commercial aircraft engines and aircraft to commercial airlines, aircraft engine manufacturers, air cargo carriers and maintenance, repair and overhaul facilities worldwide. These leasing activities are integrated with the purchase and resale of used and refurbished commercial aircraft engines, aircraft and parts.
Brad Forsyth Chief Financial Officer (415) 408-4700 The Cereghino Group IR CONTACT: 206-388-5785