Willis Lease Company profile
About Willis Lease Finance Corporation
Willis Lease Finance Corporation, along with its subsidiaries, is a lessor and servicer of commercial aircraft and aircraft engines. The Company operates through two segments: Leasing and Related Operations, and Spare Parts Sales. The Leasing and Related Operations segment involves acquiring and leasing, primarily pursuant to operating leases, commercial aircraft, aircraft engines and other aircraft equipment and the selective purchase and resale of commercial aircraft engines and other aircraft equipment and other related businesses. The Spare Parts Sales segment involves the purchase and resale of after-market engine parts, whole engines, engine modules and portable aircraft components. It enables the Company to provide end-of-life solutions for surplus aircraft and engines, as well as manage the full lifecycle of its lease assets. Its subsidiaries include WEST Engine Funding LLC, Willis Lease France, Willis Aeronautical Services, Inc. and Willis Asset Management Limited.
Financial summary
BRIEF: For the fiscal year ended 31 December 2021, Willis Lease Finance Corporation revenues decreased 5% to $274.2M. Net income applicable to common stockholders decreased 100% to $18K. Revenues reflect Leasing and Related Operations segment decrease of 5% to $256.8M, Spare Parts Sales segment decrease of 2% to $17.6M, Europe segment decrease of 48% to $30.3M, Asia segment decrease of 17% to $26.6M, Mexico segment decrease of 33% to $2.5M.
Equity composition
Common Stock $.01 Par, 03/11, 20M auth., 9,126,949 issd. Insiders own 36.94%. IPO: 9/96, 2.3M shares @ $8 by Wedbush Morgan Sec. PO 11/97, 1.5M shs. @ $15 by Lehman Brothers. FY '03 Qs are reclassified. Pref. Stock $.01 Par, 12/09, 5M auth., 3,475,000 issd.
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