Willis Lease Finance, a lessor of commercial aircraft engines and global provider of aviation services, closed its third engine-backed Japanese operating lease with call option (JOLCO), a $21 million financing with a 5% interest loan maturing in March of 2033 on a CFM LEAP-1B28 engine. Willis Lease Finance closed its first JOLCO engine transaction in August of 2023.

“The JOLCO market is particularly attractive to us as we continue to modernize our portfolio and diversify our sources of capital,” Scott B. Flaherty, executive vice president and CFO of Willis Lease Finance, said. “The successful closing of our third engine JOLCO again demonstrates the company’s access to the global capital markets, allowing us to finance assets at competitive rates and similarly offer our customers attractive lease and loan alternatives.”