Willis Lease Finance Purchases 25 Aircraft Engines from Pratt & Whitney

Willis Lease Finance purchased 25 PW1100G-JM and PW1500G GTF aircraft engines from Pratt & Whitney, a division of Raytheon Technologies and an affiliate company, in December 2020. The transaction also includes a long-term maintenance and support agreement with Pratt & Whitney and an affiliate company, enabling Willis Lease to offer engines maintained through Pratt & Whitney’s GTF MRO network. The engines, together with associated maintenance, are valued at more than $400 million.

“We have seen the trend continuing for airlines to demand engines on a ‘just in time’ basis. The bulk purchase of the GTF engines provides us the foundation for the scale required to deliver these engines through our ConstantAccess programs,” Austin C. Willis, SVP of corporate development at Willis Lease Finance, said.

“Willis Lease has demonstrated over many decades the technical and asset management capabilities required to deliver engines to our customers when needed, offering them additional options for spare engine support,” Rick Deurloo, chief commercial officer for Pratt & Whitney, said.

Willis Lease Finance leases large and regional spare commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repair and overhaul providers in 120 countries.

Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
Susie Angelucci
Advertising: 484.459.3016

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.