Willis Lease Finance reports second quarter pre-tax profit of US$11.6 million

Willis Lease Finance Corporation has reported a pre-tax profitv of US$11.6 million in the second quarter of 2018, driven by strong sales in each of its leasing, spare parts and asset management businesses. The Company achieved record quarterly lease rent revenue of US$43.1 million in the period driven by continued high utilization and 14.9% growth of its portfolio to US$1.542 billion at quarter-end compared to US$1.343 billion at December 31, 2017.

Aggregate lease rent and maintenance reserve revenues were $65.1 million for the second quarter 2018, up 37.5% and 85.5% respectively.

As of June 30, 2018, the Company had a total lease portfolio consisting of 246 engines and related equipment, 15 aircraft and 10 other leased parts and equipment with a net book value of US$1.542 billion. As of December 31, 2017, the Company had a total lease portfolio consisting of 225 engines and related equipment, 16 aircraft and 7 other leased parts and equipment, with a net book value of US$1.343 billion.

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