COCONUT CREEK, Fla., July 09, 2025 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) ("WLFC" or the "Company"), the leading lessor of commercial aircraft engines and global provider of aviation services, announced today that its subsidiary, Willis Aviation Services Limited ("WASL"), a premier provider of aircraft maintenance, repair and overhaul ("MRO") services, has secured a commitment from leading leisure airline Jet2.com ("Jet2") for two base maintenance lines for the upcoming season.
This announcement follows the successful completion of a single maintenance line for Jet2 this year, highlighting the strong performance and capabilities of the WASL delivery team in Teesside. Building on that success, Jet2 has expanded its commitment by adding a second maintenance line. Both lines will be carried out at WASL's new state-of-the-art facility located at Teesside International Airport in Northeast England.
As aircraft maintenance services remain in high demand across the UK and Europe, WASL's recently announced expansion plans at Teesside add essential capacity to the UK MRO sector to perform heavy maintenance checks, transitional activity and paint for airlines and lessors globally. Further, the new Teesside facility is expected to create a significant number of new highly skilled jobs and contribute to the pipeline of talent that supports both immediate operational needs and long-term skill development in the region.
"We are thrilled to continue our work supporting Jet2's fleet at our expanding Teesside facility," said Austin C. Willis, WLFC's Chief Executive Officer. "Our investment in Teesside enables WASL to deliver essential services for airlines including Jet2 and reflects our commitment to driving local economic growth and creating skilled jobs in the UK aerospace industry."
"We are pleased with WASL's engagement and performance with its base maintenance services for our fleet as we uphold the highest standards of safety, operational excellence and reliability for our customers," said Chris Hubbard, Director of Engineering & Maintenance at Jet2.com. "We look forward to continuing our partnership with WASL in the 2025 and 2026 season."
Willis Lease Finance Corporation
Willis Lease Finance Corporation ("WLFC") leases large and regional spare commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repair, and overhaul providers worldwide. These leasing activities are integrated with engine and aircraft trading, engine lease pools and asset management services through Willis Asset Management Limited, as well as various end-of-life solutions for engines and aviation materials provided through Willis Aeronautical Services, Inc. Through Willis Engine Repair Center®, Jet Centre by Willis, and Willis Aviation Services Limited, the Company's service offerings include Part 145 engine maintenance, aircraft line and base maintenance, aircraft disassembly, parking and storage, airport FBO and ground and cargo handling services. Willis Sustainable Fuels intends to develop, build and operate projects to help decarbonize aviation.
Except for historical information, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties. Do not unduly rely on forward-looking statements, which give only expectations about the future and are not guarantees. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include, but are not limited to: the effects on the airline industry and the global economy of events such as war, terrorist activity and the COVID-19 pandemic; changes in oil prices, rising inflation and other disruptions to world markets; trends in the airline industry and our ability to capitalize on those trends, including growth rates of markets and other economic factors; risks associated with owning and leasing jet engines and aircraft; our ability to successfully negotiate equipment purchases, sales and leases, to collect outstanding amounts due and to control costs and expenses; changes in interest rates and availability of capital, both to us and our customers; our ability to continue to meet changing customer demands; regulatory changes affecting airline operations, aircraft maintenance, accounting standards and taxes; the market value of engines and other assets in our portfolio; and risks detailed in the Company's Annual Report on Form 10-K and other continuing and current reports filed with the Securities and Exchange Commission. It is advisable, however, to consult any further disclosures the Company makes on related subjects in such filings. These statements constitute the Company's cautionary statements under the Private Securities Litigation Reform Act of 1995.
| CONTACT: | Lynn Mailliard Kohler |
| Director, Global Corporate Communications | |
| (415) 328-4798 |
