Willis Lease Finance Corporation is forming a worldwide spare engine pool for 787 modeled after their successful programs for the CFM56-7B serving North America, China and Europe. Willis has been developing the very detailed process to automate spare engine leasing and has achieved a significant success with this method currently adding support for more than 500 member aircraft in three major markets.
The agreement allows members to obtain the use of spare engines in a fractional lease arrangement managed by Willis Lease in a matter of minutes on Willis’ web based reservation system. This system eliminates the need for engine lease negotiations each time an engine is required. The joint leasing arrangement utilizes the web-based reservation system developed for the successful North American CFM56-7B Pool that allows the members to access detailed information relating to engine availability and condition and reserve it in real time. Willis Lease will be the sole provider for the members with assets placed strategically around the globe.
“The popularity of the new Boeing 787 is creating strong demand for spare engine support programs,” said Charles F. Willis, CEO. “At our first informational meeting in Seattle, we had more than 30 participants from a number of airlines, aircraft lessors and Boeing attending. With our proven expertise in developing automated engine sharing pools to support the 737NG, we have demonstrated the efficiency and cost-effectiveness of the pooling program.”
Air Canada is the first major airline to express its interest in working with Willis Lease and other 787 operators around the world to form the Willis Lease 787 Pool.