Willis Lease Finance Corporation Announces Joint Venture with Global Engine Maintenance to Develop Engine Test Cell Facility

COCONUT CREEK, Fla., March 19, 2025 (GLOBE NEWSWIRE) — Willis Lease Finance Corporation (NASDAQ: WLFC) (“WLFC” or the “Firm”), the main lessor of business plane engines and world supplier of aviation companies, in the present day introduced its subsidiary, Willis Engine Restore Heart^® (“WERC^®”), entered into an settlement with impartial MRO (Maintenance, Restore and Overhaul) supplier Global Engine Maintenance (“GEM”) to create a three way partnership named Willis Global Engine Testing (“WGET”) to construct an engine check cell facility in West Palm Seashore, Florida.

The brand new three way partnership brings collectively WLFC’s many years of trade expertise with GEM’s specialization in providing full CFM56 engine overhauls to handle the numerous scarcity of engine check cell amenities in North America.

“The market at present lacks enough testing capability, hindering lessors and operators from effectively returning engines to service. By this funding in our companies enterprise, we anticipate to enhance turnaround occasions of buyer store visits for WLFC, GEM, and third-party prospects,” mentioned Austin C. Willis, Chief Govt Officer of WLFC. “This three way partnership with a confirmed engine MRO supplier effectively shares every companion’s experience to mitigate danger and speed up market entry.”

“This three way partnership marks a major milestone for GEM as we proceed increasing our capabilities, elevating our presence within the world engine MRO market to higher serve our prospects and the broader aviation market. Willis Lease Finance Corporation is a globally acknowledged chief in plane engine leasing, asset administration, and companies identified for its revolutionary options and deep trade experience. By partnering with WLFC, we’re combining our deep experience in CFM56 MRO with their intensive leasing and asset administration options to ship a streamlined, high-quality engine testing expertise,” mentioned Dominic Raja, Vice Chairman and President of GEM.”

The ability will initially service CFM56-5B and CFM56-7B engines with the power to service newer era engine varieties sooner or later. The three way partnership plans to break floor on the location in late 2025.

About Willis Lease Finance Corporation

Willis Lease Finance Corporation (“WLFC”) leases massive and regional spare industrial plane engines, auxiliary energy items and plane to airways, plane engine producers and upkeep, restore, and overhaul suppliers worldwide. These leasing actions are built-in with engine and plane buying and selling, engine lease swimming pools and asset administration companies via Willis Asset Administration Restricted, in addition to numerous end-of-life options for engines and aviation supplies supplied via Willis Aeronautical Companies, Inc. By Willis Engine Restore Heart^®, Jet Centre by Willis, and Willis Aviation Companies Restricted, the Firm’s service choices embody Half 145 engine upkeep, plane line and base upkeep, plane disassembly, parking and storage, airport FBO and floor and cargo dealing with companies.

Apart from historic data, the issues mentioned on this press launch comprise forward-looking statements that contain dangers and uncertainties. Don’t unduly depend on forward-looking statements, which give solely expectations in regards to the future and usually are not ensures. Ahead-looking statements communicate solely as of the date they’re made, and we undertake no obligation to replace them to mirror any change within the Firm’s expectations or any change in occasions, situations or circumstances on which the forward-looking assertion is predicated, besides as required by regulation. Our precise outcomes could differ materially from the outcomes mentioned in forward-looking statements. Elements which may trigger such a distinction embody, however usually are not restricted to: the consequences on the airline trade and the worldwide financial system of occasions reminiscent of battle, terrorist exercise and well being pandemics; modifications in oil costs, rising inflation and different disruptions to world markets; tendencies within the airline trade and our means to capitalize on these tendencies, together with development charges of markets and different financial components; dangers related with proudly owning and leasing jet engines and plane; our means to efficiently negotiate tools purchases, gross sales and leases, to acquire excellent quantities due and to management prices and bills; modifications in rates of interest and availability of capital, each to us and our prospects; our means to proceed to meet altering buyer calls for; regulatory modifications affecting airline operations, plane upkeep, accounting requirements and taxes; the market worth of engines and different property in our portfolio; and dangers detailed within the Firm’s Annual Report on Kind 10-Ok and different persevering with and present studies filed with the Securities and Change Fee. It’s advisable, nevertheless, to seek the advice of any additional disclosures the Firm makes on associated topics in such filings. These statements represent the Firm’s cautionary statements underneath the Personal Securities Litigation Reform Act of 1995.

About Global Engine Maintenance

Global Engine Maintenance (GEM) is a number one impartial CFM56 MRO supplier, delivering high-quality, cost-effective, and customised engine options to airways, lessors, and operators worldwide. With 15 years of experience, GEM stands out for its flexibility, speedy turnaround occasions, and customer-focused method, providing full-service capabilities with a variety of options, together with overhauls, efficiency restoration repairs, module swaps, hospital store visits, and on-wing assist. By combining cutting-edge expertise, deep trade experience, and a dedication to operational excellence, GEM supplies tailor-made upkeep packages that maximize engine life and reduce prices.