Willis Lease Finance Corporation (WLFC) reported earnings of $9.7m in the second quarter ended June 30, 2013, compared to $1.6m in the preceding quarter and $2.4m in the second quarter a year ago. For the first six months of 2013, net income attributable to common shareholders was $11.3m compared to $5.0 million in the first six months of 2012. Lease portfolio increased 4.7% to $1.02bn from $0.97bn a year ago, largely due to the purchase-leaseback transaction with Scandinavian Airlines that was completed in the first quarter of 2013. Total revenues grew 8.0% to $38.0m from $35.2m a year ago, reflecting portfolio growth and increased maintenance reserve revenues. Lease rent revenues increased 3.9% to $24.8m compared to $23.8m a year ago. Maintenance reserve revenues increased 24.9% to $11.8m compared to $9.4m a year ago.
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[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada