Willis Lease Finance made an investment in its regional aviation business with the purchase of four ATR 72-500 aircraft from Investec Bank.

“After a significant review of the market, we saw this as the best opportunity for our regional and specialty assets team to enhance our portfolio,” Charles F. Willis, chairman and CEO of Willis Lease Finance, said. “Our team initiated a market search late last year issuing a request for proposal in November for interested parties with regional aircraft to sell. The purchase of these four aircraft launch us into regional aircraft leasing, complementing our existing regional engine leasing business.”

The ATR 72-500 aircraft is paired with Pratt & Whitney 127M turboprop engines.

“The ATR 72-500 is a popular choice for both passenger and cargo airlines,” Michael Rodyniuk, who leads the regional and specialty assets team at Willis Lease Finance, said. “Airlines interested in these aircraft should contact us at +1 (561) 349-8963 or [email protected].”

“Working with Willis on this transaction has been a pleasure,” Clayton Woollgar of Investec Bank said. “These aircraft are relatively young with a lot of life left in them, and this sale is an important step for us in furthering our relationship with WLFC as we continue to wind down our turboprop book.”