Willis Lease Finance Corp. Strikes Deal with Pratt & Whitney for up to 15 New Engine Purchases in 2024

Willis Lease Finance Corporation (NASDAQ: WLFC), the leading lessor of commercial aircraft engines and global provider of aviation services, is pleased to announce that it has finalized a deal with Pratt & Whitney, a division of RTX Corporation (NYSE: RTX), for the purchase and leaseback of up to fifteen Pratt & Whitney PW1100G-JM GTF aircraft engines, with all purchases expected to occur by December 31, 2024. Pratt & Whitney’s GTF engine offers up to 17% lower fuel consumption, is certified for operation on 50% Sustainable Aviation Fuel (“SAF”) and has been successfully tested on 100% SAF. The transaction is valued at $363.9 million, according to Pratt & Whitney’s list prices for the year 2024.

“We are pleased to be supporting P&W and their customers with another innovative transaction,” said CEO Austin C. Willis. WLFC completed a purchase and leaseback transaction of 25 GTF engines with Pratt & Whitney in early 2021. “By providing efficient capital, while integrating our strategically aligned aftermarket service offerings, we continue to grow our portfolio, investing in more environmentally friendly engines,” shared Mr. Willis. “This effort supports our commitment to decarbonizing commercial aviation in line with our SAF initiative and we look forward to discussing this as well as our performance in our second quarter earnings call in early August.”