Willis Aviation Services Limited Selected by Jet2.com for Expert MRO Services in UK
Willis Lease Finance (NASDAQ: WLFC) announces its subsidiary, Willis Aviation Services (WASL), has secured a long-term General Terms Agreement with Jet2.com, the UK's third-largest airline, for B737NG aircraft maintenance services. The agreement focuses on performing C Checks at WASL's facility at Teesside International Airport in Northeastern England.
This strategic partnership emphasizes Jet2's commitment to maintaining high safety and reliability standards across its fleet operations. The collaboration is expected to contribute to local economic growth and create skilled employment opportunities in the UK aerospace industry. WASL will leverage its advanced capabilities and expertise to deliver heavy base maintenance services at its state-of-the-art facility.
Willis Lease Finance (NASDAQ: WLFC) annuncia che la sua filiale, Willis Aviation Services (WASL), ha ottenuto un contratto a lungo termine per Termini Generali con Jet2.com, la terza compagnia aerea più grande del Regno Unito, per i servizi di manutenzione degli aerei B737NG. Il contratto si concentra sull'esecuzione dei C Checks presso la struttura di WASL all'Aeroporto Internazionale di Teesside nel Nord-est dell'Inghilterra.
Questa partnership strategica sottolinea l'impegno di Jet2 nel mantenere alti standard di sicurezza e affidabilità nelle operazioni della sua flotta. La collaborazione è prevista per contribuire alla crescita economica locale e creare opportunità di lavoro qualificate nell'industria aerospaziale del Regno Unito. WASL sfrutterà le sue capacità avanzate ed esperienze per fornire servizi di manutenzione pesante presso la sua struttura all'avanguardia.
Willis Lease Finance (NASDAQ: WLFC) anuncia que su filial, Willis Aviation Services (WASL), ha asegurado un contrato a largo plazo de Términos Generales con Jet2.com, la tercera aerolínea más grande del Reino Unido, para los servicios de mantenimiento de aeronaves B737NG. El contrato se centra en la realización de los C Checks en la instalación de WASL en el Aeropuerto Internacional de Teesside, en el noreste de Inglaterra.
Esta asociación estratégica enfatiza el compromiso de Jet2 por mantener altos estándares de seguridad y confiabilidad en las operaciones de su flota. Se espera que la colaboración contribuya al crecimiento económico local y genere oportunidades de empleo cualificado en la industria aeroespacial del Reino Unido. WASL aprovechará sus capacidades avanzadas y experiencia para ofrecer servicios de mantenimiento base pesado en su instalación de última tecnología.
윌리스 리스 파이낸스 (NASDAQ: WLFC)는 자회사인 윌리스 항공 서비스 (WASL)가 Jet2.com(영국의 세 번째로 큰 항공사)와 B737NG 항공기 유지 관리 서비스를 위한 장기 일반 조건 계약을 체결했다고 발표했습니다. 이 계약은 WASL의 티시드 국제 공항 내 시설에서 C Check를 수행하는 데 중점을 두고 있습니다.
이번 전략적 파트너십은 Jet2가 자사 항공기의 안전 및 신뢰성을 유지하기 위한 노력을 강조합니다. 이 협력은 지역 경제 성장에 기여하고 영국 항공 우주 산업에서 숙련된 일자리 기회를 창출할 것으로 예상됩니다. WASL은 첨단 시설에서 중대한 기초 유지 관리 서비스를 제공하기 위해 그들의 고급 기술과 전문성을 활용할 것입니다.
Willis Lease Finance (NASDAQ: WLFC) annonce que sa filiale, Willis Aviation Services (WASL), a obtenu un contrat à long terme de Conditions Générales avec Jet2.com, la troisième plus grande compagnie aérienne du Royaume-Uni, pour des services de maintenance des avions B737NG. Le contrat se concentre sur l'exécution des C Checks dans l'établissement de WASL à l'aéroport international de Teesside, situé au nord-est de l'Angleterre.
Ce partenariat stratégique souligne l'engagement de Jet2 à maintenir des normes de sécurité et de fiabilité élevées dans ses opérations de flotte. La collaboration devrait contribuer à la croissance économique locale et créer des opportunités d'emploi qualifiées dans l'industrie aérospatiale britannique. WASL mettra à profit ses capacités avancées et son expertise pour fournir des services de maintenance lourde dans sa structure à la pointe de la technologie.
Willis Lease Finance (NASDAQ: WLFC) gibt bekannt, dass ihre Tochtergesellschaft, Willis Aviation Services (WASL), eine langfristige Allgemeine Geschäftsvereinbarung mit Jet2.com, der drittgrößten Fluggesellschaft des Vereinigten Königreichs, über Wartungsdienste für B737NG-Flugzeuge, gesichert hat. Der Vertrag konzentriert sich auf die Durchführung von C Checks in der Einrichtung von WASL am Teesside International Airport im Nordosten Englands.
Diese strategische Partnerschaft betont das Engagement von Jet2, hohe Sicherheits- und Zuverlässigkeitsstandards in ihren Flugbetrieben aufrechtzuerhalten. Die Zusammenarbeit wird voraussichtlich zum lokalen Wirtschaftswachstum beitragen und qualifizierte Arbeitsplätze in der britischen Luft- und Raumfahrtindustrie schaffen. WASL wird seine fortschrittlichen Fähigkeiten und Fachkenntnisse nutzen, um umfassende Wartungsdienste in seiner hochmodernen Einrichtung anzubieten.
- Secured long-term maintenance agreement with UK's third-largest airline
- Expansion of MRO services at Teesside International Airport facility
- Potential for local economic growth and job creation in UK aerospace sector
- None.
Insights
The strategic partnership between Willis Aviation Services and Jet2.com represents a significant commercial agreement in the aviation maintenance sector. The long-term GTA for B737NG C Checks holds substantial revenue potential, considering Jet2's position as the UK's third-largest airline and its fleet size of over 100 aircraft.
The deal strengthens WLFC's market position in the competitive MRO landscape, particularly in the UK region where aviation maintenance capabilities are important post-Brexit. The Teesside facility location is strategically valuable, offering cost advantages compared to facilities in Southern England while supporting regional economic development.
From a business perspective, this agreement provides WLFC with steady, predictable revenue streams from heavy maintenance services, which typically range from
The deal's financial implications are notable for WLFC's diversification strategy and revenue stability. Heavy maintenance services like C Checks provide higher margins compared to traditional engine leasing, typically yielding
The timing is particularly advantageous as airlines focus on maintenance catch-up post-COVID, with increased demand for MRO services driving pricing power. For context, the global commercial aircraft MRO market is projected to grow at a CAGR of
This partnership also enhances WLFC's competitive position against larger MRO providers like Lufthansa Technik and SR Technics, potentially leading to improved valuation multiples as the company demonstrates its ability to secure major airline contracts.
Third Largest Airline in the UK Partners with Willis to Ensure Continued Fleet Reliability
COCONUT CREEK, Fla., Jan. 08, 2025 (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, announces its subsidiary, Willis Aviation Services Limited (“WASL”), a leading aircraft maintenance, repair and overhaul (“MRO”) provider, has entered into a long-term General Terms Agreement (“GTA”) and volume commitment with leading leisure airline Jet2.com (“Jet2”) to perform C Checks on Jet2’s B737NG aircraft.
Leveraging its expertise and advanced capabilities, WASL will deliver these heavy base maintenance services at its growing state-of-the-art facility at Teesside International Airport in Northeastern England. This strategic collaboration underscores Jet2’s commitment to ensuring the highest standards of safety, reliability, and superior performance across its aircraft operations.
“We’re excited to partner with Jet2.com, a respected airline known for its customer focus and operational excellence,” said Austin C. Willis, WLFC’s Chief Executive Officer. “This agreement highlights our commitment to delivering premier MRO solutions while supporting Jet2’s fleet, fostering local economic growth and creating skilled jobs in the UK aerospace industry.”
“At Jet2, safety and reliability are at the heart of everything we do,” said Chris Hubbard, Director of Engineering & Maintenance at Jet2.com. “We are confident that Willis Aviation Services Limited’s proven capability and commitment to quality will ensure our fleet continues to meet the highest standards, enabling us to continue delivering an exceptional experience to our customers.”
Willis Lease Finance Corporation
Willis Lease Finance Corporation (“WLFC”) leases large and regional spare commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repair, and overhaul providers worldwide. These leasing activities are integrated with engine and aircraft trading, engine lease pools and asset management services through Willis Asset Management Limited, as well as various end-of-life solutions for engines and aviation materials provided through Willis Aeronautical Services, Inc. Through Willis Engine Repair Center®, Jet Centre by Willis, and Willis Aviation Services Limited, the Company’s service offerings include Part 145 engine maintenance, aircraft line and base maintenance, aircraft disassembly, parking and storage, airport FBO and ground and cargo handling services.
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 to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. 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 war, terrorist activity and the COVID-19 pandemic; changes in oil prices, rising inflation and other disruptions to 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 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 and current reports filed with the Securities and Exchange Commission. It is advisable, however, to consult any further disclosures the Company makes on related subjects in such filings. These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.
| CONTACT: | Lynn Mailliard Kohler |
| Manager Corporate Communications | |
| (415) 328-4798 |
A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/516a02a3-6597-404b-9d51-2ce757dd77ad
FAQ
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