Willis Lease Finance net income grows 46% in 2Q08

Willis Lease Finance Corporation reported the ongoing growth of its engine portfolio, high utilization and strong market demand for leased engines contributed to 20% year-over-year revenue growth in the second quarter of 2008. Willis Lease net income available to common stockholders increased 56% to $5.6 million in the second quarter of 2008, compared to $3.6 million in the like quarter a year ago. In the first half of 2008, net income available to common stockholders grew 38% to $10.0 million from $7.2 million in the like period of 2007.

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