Willis Lease Finance Corporation Fuels Teesside’s Economic Takeoff with Bold Expansion Investment Starting with Construction of a State of the Art Two-Bay Narrowbody Maintenance Hangar
Willis Lease Finance (NASDAQ: WLFC) has announced its subsidiary Willis Aviation Services (WASL) has begun construction of a new two-bay narrowbody hangar at Teesside International Airport in Northeastern England. The facility will accommodate 737 and A320 family aircraft, including new-generation models.
The expansion comes amid exceptionally high demand for aircraft heavy maintenance, with global and European capacity currently insufficient. The new facility aims to address this industry gap while creating numerous highly-skilled jobs in the region. WASL is partnering with local universities and colleges to establish training programs for mechanics and apprentices, ensuring a sustainable talent pipeline.
The project is part of WLFC's broader commitment to create several hundred jobs in Northeast England and expand its aviation services, which include engine leasing, aircraft maintenance, and various end-of-life solutions for engines and aviation materials.
Willis Lease Finance (NASDAQ: WLFC) ha annunciato che la sua controllata Willis Aviation Services (WASL) ha avviato la costruzione di un nuovo hangar a due baie per aeromobili a fusoliera stretta presso l'aeroporto internazionale di Teesside, nel Nord-Est dell'Inghilterra. La struttura sarà in grado di ospitare aeromobili delle famiglie 737 e A320, inclusi i modelli di nuova generazione.
L'espansione arriva in un momento di domanda eccezionalmente alta per la manutenzione pesante degli aeromobili, con una capacità globale ed europea attualmente insufficiente. Il nuovo impianto mira a colmare questa lacuna nel settore, creando numerosi posti di lavoro altamente qualificati nella regione. WASL sta collaborando con università e college locali per istituire programmi di formazione per meccanici e apprendisti, garantendo così un flusso sostenibile di talenti.
Il progetto fa parte dell'impegno più ampio di WLFC di creare diverse centinaia di posti di lavoro nel Nord-Est dell'Inghilterra e di espandere i suoi servizi aeronautici, che includono il leasing di motori, la manutenzione degli aeromobili e varie soluzioni per la fine del ciclo di vita di motori e materiali aeronautici.
Willis Lease Finance (NASDAQ: WLFC) ha anunciado que su subsidiaria Willis Aviation Services (WASL) ha comenzado la construcción de un nuevo hangar de dos bahías para aeronaves de fuselaje estrecho en el Aeropuerto Internacional de Teesside, en el noreste de Inglaterra. La instalación podrá albergar aviones de las familias 737 y A320, incluidos los modelos de nueva generación.
La expansión se produce en medio de una demanda excepcionalmente alta para el mantenimiento pesado de aeronaves, con una capacidad global y europea actualmente insuficiente. La nueva instalación tiene como objetivo cubrir esta brecha en la industria y crear numerosos empleos altamente cualificados en la región. WASL está colaborando con universidades y colegios locales para establecer programas de formación para mecánicos y aprendices, asegurando un flujo sostenible de talento.
El proyecto forma parte del compromiso más amplio de WLFC de crear varios cientos de empleos en el noreste de Inglaterra y ampliar sus servicios de aviación, que incluyen el arrendamiento de motores, mantenimiento de aeronaves y diversas soluciones para el fin de vida útil de motores y materiales aeronáuticos.
Willis Lease Finance (NASDAQ: WLFC)는 자회사 Willis Aviation Services(WASL)가 영국 북동부의 티사이드 국제공항에 새로운 2베이 협동체형 항공기 격납고 건설을 시작했다고 발표했습니다. 이 시설은 737 및 A320 계열 항공기, 신세대 모델을 포함하여 수용할 예정입니다.
이번 확장은 항공기 중정비에 대한 수요가 매우 높은 가운데 전 세계 및 유럽의 수용 능력이 현재 부족한 상황에서 이루어졌습니다. 새 시설은 이 산업의 격차를 해소하는 동시에 지역 내 고숙련 일자리를 다수 창출하는 것을 목표로 합니다. WASL은 지역 대학 및 전문대와 협력하여 정비사 및 견습생을 위한 교육 프로그램을 마련하여 지속 가능한 인재 공급망을 확보하고 있습니다.
이 프로젝트는 WLFC가 영국 북동부에서 수백 개의 일자리를 창출하고 엔진 리스, 항공기 정비, 엔진 및 항공 자재의 수명 종료 솔루션 등 항공 서비스 확장을 위한 보다 광범위한 약속의 일환입니다.
Willis Lease Finance (NASDAQ : WLFC) a annoncé que sa filiale Willis Aviation Services (WASL) a commencé la construction d’un nouveau hangar à deux baies pour avions monocouloirs à l’aéroport international de Teesside, dans le nord-est de l’Angleterre. L’installation pourra accueillir des avions des familles 737 et A320, y compris les modèles de nouvelle génération.
Cette expansion intervient dans un contexte de demande exceptionnellement élevée pour la maintenance lourde des avions, avec une capacité mondiale et européenne actuellement insuffisante. La nouvelle installation vise à combler cette lacune dans l’industrie tout en créant de nombreux emplois hautement qualifiés dans la région. WASL s’associe à des universités et collèges locaux pour mettre en place des programmes de formation pour les mécaniciens et apprentis, garantissant ainsi un vivier de talents durable.
Ce projet s’inscrit dans l’engagement plus large de WLFC à créer plusieurs centaines d’emplois dans le nord-est de l’Angleterre et à développer ses services aéronautiques, qui incluent la location de moteurs, la maintenance des avions et diverses solutions de fin de vie pour moteurs et matériaux aéronautiques.
Willis Lease Finance (NASDAQ: WLFC) hat bekannt gegeben, dass seine Tochtergesellschaft Willis Aviation Services (WASL) mit dem Bau eines neuen Hangars mit zwei Buchten für Schmalrumpfflugzeuge am Teesside International Airport im Nordosten Englands begonnen hat. Die Anlage wird Flugzeuge der 737- und A320-Familie, einschließlich neuer Generationen, aufnehmen können.
Die Erweiterung erfolgt angesichts einer außergewöhnlich hohen Nachfrage nach umfassender Flugzeugwartung, wobei die globale und europäische Kapazität derzeit nicht ausreicht. Die neue Einrichtung soll diese Lücke in der Branche schließen und zahlreiche hochqualifizierte Arbeitsplätze in der Region schaffen. WASL arbeitet mit lokalen Universitäten und Fachhochschulen zusammen, um Ausbildungsprogramme für Mechaniker und Auszubildende einzurichten und so einen nachhaltigen Talentnachschub zu gewährleisten.
Das Projekt ist Teil des umfassenderen Engagements von WLFC, mehrere hundert Arbeitsplätze im Nordosten Englands zu schaffen und seine Luftfahrtdienstleistungen auszubauen, zu denen Motorleasing, Flugzeugwartung und verschiedene Lösungen für das Lebensende von Motoren und Luftfahrtmaterialien gehören.
- Strategic expansion into high-demand MRO market addressing capacity shortage
- Creation of new highly-skilled jobs and establishment of training programs
- Enhanced service capability for both 737 and A320 family aircraft
- Development of sustainable talent pipeline through educational partnerships
- None.
Insights
WLFC's new aircraft maintenance hangar addresses critical industry capacity shortages while creating skilled jobs in Teesside.
Willis Lease Finance 's expansion at Teesside International Airport represents a strategic response to a documented industry challenge. The new two-bay narrowbody hangar, specifically equipped for 737 and A320 family aircraft (including new-generation models), addresses what the company explicitly identifies as exceptionally high demand for aircraft heavy maintenance services.
The timing appears opportune as the article clearly states that global and European MRO capacity is falling short, with most maintenance providers operating at full capacity. This industry-wide shortage has created conditions where airlines must plan maintenance well in advance, with last-minute bookings becoming increasingly difficult to secure.
WLFC's approach to workforce development merits attention. Their partnerships with local educational institutions to create training programs for mechanics and apprentices serves dual purposes: building a sustainable talent pipeline while fulfilling their commitment to create a significant number of highly-skilled jobs in Northeast England.
This expansion aligns with WLFC's vertical integration strategy. As CEO Austin Willis states, their "integrated services businesses support third-party customers, as well as the Company's owned and managed assets." This dual-purpose approach potentially allows WLFC to generate revenue from external maintenance clients while optimizing maintenance operations for their own leased assets, creating operational efficiencies across their business model.
WLFC's MRO expansion capitalizes on industry capacity shortages while diversifying revenue streams beyond engine leasing.
Willis Lease Finance 's construction of a new maintenance hangar represents strategic diversification beyond their core engine leasing business. While specific investment figures aren't disclosed, this expansion strengthens WLFC's position in the aviation services value chain, specifically in the MRO segment where capacity constraints currently exist.
The market conditions supporting this move are clearly articulated: demand for aircraft heavy maintenance is exceptionally high, with capacity shortages creating scheduling challenges for airlines across Europe and globally. By expanding in this supply-constrained environment, WLFC positions itself to potentially capture increased business volume in the narrowbody maintenance segment.
This investment aligns with WLFC's integrated business model as described by CEO Austin Willis. Their strategy of developing service businesses that support both third-party customers and their own assets enables operational synergies while diversifying revenue sources. For investors, this diversification could potentially provide additional business lines to complement the aircraft and engine leasing operations.
The workforce development component is substantive, with the company confirming its promise to create "several hundred jobs" in Northeast England. The investment in training programs with local educational institutions indicates a long-term regional commitment that establishes a framework for sustainable operational growth.
Without specific financial projections provided, the immediate impact on WLFC's financial performance remains to be determined, though the strategic alignment with market demand signals potential for future business development.
Company’s strategic investments highlight its commitment to fostering regional prosperity and creating valuable job opportunities in Teesside
COCONUT CREEK, Fla., April 23, 2025 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) the leading lessor of commercial aircraft engines and global provider of aviation services, is pleased to announce its subsidiary, Willis Aviation Services Limited (“WASL”), a leading aircraft maintenance, repair and overhaul (“MRO”) provider, has commenced construction of an additional two-bay narrowbody hangar at its growing operations at Teesside International Airport (“Teesside”) in Northeastern England. The new hangar will be equipped for 737 and A320 family aircraft, including new-generation models.
Demand for aircraft heavy maintenance is exceptionally high, with global and European capacity falling short. Airlines must plan ahead to secure maintenance slots, as most MROs are at full capacity, making last-minute bookings difficult. The Company’s expansion plans add capacity to the UK’s MRO sector, addressing this industry gap. The new facility is expected to create a significant number of new highly-skilled jobs at Teesside. In partnership with local universities and colleges, WASL has laid the groundwork to launch training programs for new mechanics and apprentices, creating a sustainable pipeline of talent that supports both immediate operational needs and long-term skill development in the region.
“We made a promise to create several hundred jobs in Northeast England, and we are proud to be delivering on that commitment. We are following through on our pledge to establish and expand our services in this region and beyond. Our integrated services businesses support third-party customers, as well as the Company’s owned and managed assets, driving meaningful growth and opportunity in the communities we serve,” said Austin C. Willis, Chief Executive Officer of WLFC.
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. Willis Sustainable Fuels intends to develop, build and operate projects to help decarbonize aviation.
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 |
| Director, Global Corporate Communications | |
| (415) 328-4798 |
FAQ
What is the scope of Willis Lease Finance's new hangar expansion at Teesside Airport?
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