WLFC - Willis Lease Finance Corporation Strikes Deal with Pratt & Whitney for up to 15 New Engine Purchases in 2024 | Benzinga
COCONUT CREEK, Fla., June 25, 2024 (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, is pleased to announce that it has finalized a deal with Pratt & Whitney, a division of RTX Corporation (NYSE:RTX), for the purchase and leaseback of up to fifteen Pratt & Whitney PW1100G-JM GTF aircraft engines, with all purchases expected to occur by December 31, 2024. Pratt & Whitney's GTF engine offers up to 17% lower fuel consumption, is certified for operation on 50% Sustainable Aviation Fuel ("SAF") and has been successfully tested on 100% SAF. The transaction is valued at $363.9 million, according to Pratt & Whitney's list prices for the year 2024.
"We are pleased to be supporting P&W and their customers with another innovative transaction," said CEO Austin C. Willis. WLFC completed a purchase and leaseback transaction of 25 GTF engines with Pratt & Whitney in early 2021. "By providing efficient capital, while integrating our strategically aligned aftermarket service offerings, we continue to grow our portfolio, investing in more environmentally ...