WILLIS LEASE FINANCE CORP

Willis Lease Finance Corporation (NASDAQ: WLFC) operates as a leading lessor and servicer of commercial aircraft and aircraft engines globally. The company maintains its website at www.wlfc.global and serves as a specialized provider of aviation equipment leasing and related services to commercial aircraft operators and maintenance, repair and overhaul organizations worldwide.

The company's business model centers on acquiring commercial aircraft and engines, then managing those assets to generate returns primarily through lease rent and maintenance reserve revenues, supplemented by management fees for administering assets owned by third parties. As of December 31, 2024, Willis Lease Finance maintained an operating lease portfolio valued at $2.6 billion comprising 354 engines, 16 aircraft, one marine vessel and other leased parts and equipment serving 70 lessees across 37 countries. The company also managed an additional 277 engines and aircraft for other parties.

Willis Lease Finance operates through two reportable segments. The Leasing and Related Operations segment, which generated 95.4 percent of total consolidated revenue in 2024, focuses on leasing aircraft and engines under triple-net operating lease arrangements while providing related services including engine storage and maintenance. The Spare Parts Sales segment, managed through the wholly-owned Willis Aero subsidiary, engages in selling aircraft engine parts and materials acquired through third-party transactions or from the leasing portfolio, providing end-of-life solutions for surplus aircraft and engines.

The company maintains additional wholly-owned subsidiaries including Willis Asset Management, which focuses on engine management and consulting services with 225 engines under management as of year-end 2024. Willis Lease Finance also holds 50 percent interests in two joint ventures: Willis Mitsui & Company Engine Support Limited, which owned 50 engines with a net book value of $328.9 million, and CASC Willis Lease Finance Company Limited, which owned four engines valued at $37.3 million.

The company employed 447 full-time employees as of December 31, 2024. Willis Lease Finance finances its operations through a combination of equity capital and borrowed funds, typically leveraging up to 85 percent of engine purchase prices through asset-backed securitizations, revolving credit facilities, and warehouse financing arrangements.