Willis Lease Finance Q3 revenue jumps 34% on equipment sales
WLFC•Willis Lease Finance’s third-quarter revenue rose 34% year over year to a record $246.30 million, driven by equipment sales and a larger lease portfolio. Net income attributable to common shareholders fell 55%.
1. Revenue growth
Willis Lease Finance reported third-quarter revenue of $246.30 million, up 34% year over year to a record high. The company said the increase was primarily driven by the sale of five aircraft, two engines and one airframe acquired in connection with the WNG Acquisition.
2. Other business drivers
Higher lease rent revenue reflected an increased average portfolio size and a strong lease rate factor. Maintenance services revenue rose 208% year over year, which the company said reflected higher demand for engine and aircraft maintenance offerings. Willis Lease Finance did not provide specific financial guidance for current or future periods.
