Willis Lease signs ConstantAccess™ agreement with major European Airline
July 09 2019 - 2:04PM
Willis Lease Finance Corporation has entered into an agreement to
provide ConstantAccess™ Platinum to a major European operator for a
fleet consisting of 40 engines. The agreement will provide
guaranteed availability of spare engines for both planned, and
unplanned removals. “We are finding a greater number of airlines,
both legacy operators as well as low cost carriers, are opting to
contract with us to provide them with spare engine coverage on
a ‘just in time basis’ rather than maintaining a
portfolio of underutilized assets” - commented Austin C. Willis,
SVP of Corporate Development of Willis Lease.
Willis Lease Finance
Willis Lease Finance Corporation leases large
and regional spare commercial aircraft engines, auxiliary power
units and aircraft to airlines, aircraft engine manufacturers and
maintenance, repair and overhaul providers in 120 countries. These
leasing activities are integrated with engine and aircraft trading,
engine lease pools and asset management services supported by
cutting edge technology through its subsidiary Willis Asset
Management, as well as various end-of-life solutions for aircraft,
engines and aviation materials provided through its subsidiary,
Willis Aeronautical Services, Inc.
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. 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 terrorist activity, changes in oil prices and other
disruptions to the 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 the 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 reports filed with the Securities and Exchange
Commission.
CONTACT: Scott B. FlahertyChief Financial
Officer(415) 408-4700
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