Willis Lease Finance

What Willis Lease Finance does

Willis Lease Finance Corporation (NASDAQ: WLFC), founded in 1985 by Charles F. Willis IV, is the largest independent lessor of commercial aircraft jet engines, operating from its Coconut Creek, Florida headquarters with offices in Ireland, France, Singapore, the UK, and China and serving customers in 120+ countries. Its core operating model leases commercial aircraft engines (and increasingly whole aircraft) to airlines, cargo operators, MROs, OEMs, and other lessors through products including ConstantAccess® (on-demand engine availability), ConstantThrust® (maintenance cost/risk coverage that reportedly halves engine change costs), the Revolving Credit Lease (RCL), Green-time Lease, and the CFM56-7B Pooling Program. The company complements this with a vertically integrated services platform — Willis Engine Repair Center® (EASA/FAA Part 145 dual-release in Coconut Creek and Bridgend), Willis Module Shop™ (in-house module restoration launched Feb 2026), Willis Aviation Services Limited (UK Part 145 maintenance and FBO at Teesside), and Willis Aeronautical Services (parts) — plus two joint ventures: Willis Mitsui & Co. Engine Support Limited (Dublin) and CASC Willis Engine Lease Company (Shanghai).

Revenue is generated primarily through subscription-like recurring lease rent (Q1 2026: $77.4M record) plus maintenance services (Q1 2026: $9.8M record), spare parts sales, aircraft disassembly/storage, and a newly launched asset management fee stream from Willis Aviation Capital. Pricing is quote-based and negotiated per transaction across short- and long-term lease structures. The asset base stood at $3.4B in owned and managed assets at the time of disclosure, supported by a $1.75B revolving credit facility (maturity 2031), $2.71B of total debt, and an active ABS program via Willis Engine Structured Trusts ($392.9M WEST IX in Dec 2025; $596M in Jun 2025; $410M WEST VII in 2023). FY2025 revenue reached a record $730M with Q1 2026 revenue of $194.35M (+23.2% YoY) and Q1 2026 adjusted EBITDA of $123.8M (+19.9% YoY); portfolio utilization rose to 86% from 80%.

The 2026 strategic agenda is dominated by capital scaling and platform extension: a $1B+ Blackstone Credit & Insurance partnership and a Liberty Mutual $600M credit strategy (both flowing through Willis Aviation Capital), an industry-first CFM56 lifecycle extension partnership with CFM International, the launch of Willis Module Shop™, an aircraft leasing buildout (A330-300 acquisition for China Airlines and EVA Air; new SVP Aircraft Leasing & Trading), Teesside facility expansion (50 acres plus two narrowbody hangars), and a 3-for-1 stock split approved in June 2026. Governance headwinds exist — over 92% of unaffiliated stockholders voted against executive compensation at the 2026 Annual Meeting, and an investigation into board fiduciary duties regarding executive pay (nearly doubling to $14.2M) is underway, alongside litigation against China Aircraft Leasing entities over a disputed engine.

Name

Willis Lease Finance

Legal name

Willis Lease Finance Corporation

Website

https://wlfc.global

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Aircraft Engine Leasing

NAICS

Commercial Air, Rail, and Water Transportation Equipment Rental and Leasing (532411)

SIC

Finance Lessors (6172)

akta.pro primary industry

Parts Distribution & Spares Management (Aftermarket) (IMABALAK)

Keywords

• Aircraft engine leasing
• Commercial aviation financing
• Engine maintenance services
• Aircraft parts distribution
• Aviation asset management

Headquarters

HQ city

Coconut Creek

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Engine and Aircraft Lease Rent: Primary revenue stream from leasing commercial aircraft engines and aircraft to airlines worldwide. The company is the largest independent lessor of commercial aircraft jet engines, generating recurring lease rent revenue. Q1 2026 record lease rent revenue of $77.4 million, representing year-over-year growth driven by robust demand.
2. Maintenance Services: Revenue from engine maintenance, repair, and overhaul services at Willis Engine Repair Centers in the US and UK, including engine module restoration (Willis Module Shop™), and Part 145 maintenance services. Q1 2026 record maintenance services revenue of $9.8 million.
3. Spare Parts Sales: Sale of spare aircraft parts, after-market engine parts, and portable aircraft components through Willis Aeronautical Services, Inc. (Willis Aero), providing material solutions for engines and airframes to commercial airlines and MROs globally.
4. Aircraft Disassembly and Fleet Management: Aircraft disassembly, storage, and management services including full fleet management, consulting, CAMO (Continuing Airworthiness Management Organisation), and technical services for engines and aircraft owned and operated by airlines, leasing companies, and EOMs.
5. Asset Management Fees (Willis Aviation Capital): Recurring management fees, carried interest, and servicing revenues generated through Willis Aviation Capital, the new asset management division managing third-party aviation assets through discretionary funds, supporting balance sheet deleveraging.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels6 records

Core offering

Willis Lease Finance Corporation is the largest independent lessor of commercial aircraft jet engines, providing short-term and long-term engine and aircraft leasing, sale/leaseback financing, ConstantAccess® on-demand leasing, ConstantThrust® maintenance coverage, and Revolving Credit Lease programs to commercial airlines worldwide. The company also operates dual EASA/FAA Part 145 certified engine repair centers (US and UK), aircraft maintenance/storage facilities at Teesside, an industry-leading spare parts business (Willis Aeronautical Services), FBO services (Jet Centre by Willis), and aviation asset management through Willis Aviation Capital.

Product overview

Willis Lease Finance Corporation is a pioneer in aviation services with a platform-plus-services architecture spanning three main divisions: Willis Lease (engine and aircraft leasing), Willis Services (maintenance and parts), and Willis Innovation (sustainability and lifecycle solutions). The core Willis Lease product offers short- and long-term engine leasing through ConstantAccess® (on-demand availability), ConstantThrust® (maintenance coverage), Revolving Credit Lease (financing), Green-time Lease (maintenance deferral), and a Pooling Program for CFM56-7B engines. Willis Services encompasses the Willis Engine Repair Center® (EASA/FAA Part 145 maintenance in US and UK), Willis Module Shop™ (in-house module restoration launched 2026), Willis Aviation Services Limited (aircraft maintenance at Teesside), Willis Aeronautical Services (parts and materials), Jet Centre by Willis (FBO services), and Willis Mitsui & Co. Asset Management (technical consultancy). Willis Innovation focuses on sustainable aviation fuel and partnerships like the CFM International lifecycle extension program. The company also operates joint ventures including Willis Mitsui & Co. Engine Support Limited (Dublin) and CASC Willis Engine Lease Company (Shanghai).

Differentiator

Problem solved

Functional benefit

Brands

• Willis Services: Broad range of aircraft and engine services including aircraft maintenance, storage, disassembly, Part 145 maintenance, full fleet management, consulting, CAMO, technical services, spare parts sales, and airport FBO and ground handling services.
• Willis Innovation
• Willis Module Shop
• Willis Aviation Capital
• ConstantAccess
• ConstantThrust
• Willis Engine Repair Center
• Willis Sustainable Fuels

Products and services

• Willis Lease Primary aircraft engine leasing brand offering short- and long-term lease financing for commercial aircraft engines, including sale/leaseback financing for today's most popular engine types. Targeted at commercial airlines, cargo operators, MROs, OEMs, and leasing companies.
• ConstantAccess® On-demand engine leasing program providing preferred access to a worldwide portfolio of engines with guaranteed availability for LEAP-1A/B, GEnx, CF34-10E, CFM56-5B/7B, V2500, PW1100G-JM (GTF), and PW1500G (GTF) engines. For commercial airlines and operators needing flexible spare engine access.
• ConstantThrust® Engine maintenance coverage program that replaces removed engines with serviceable engines from the Willis Lease portfolio, covering the cost and risk of heavy maintenance and reducing engine change costs by half. For commercial airlines seeking to avoid expensive engine shop visits.
• Revolving Credit Lease (RCL) Long-term engine financing program allowing airlines flexibility for engine ownership, providing liquidity including for future maintenance, with payment cash flows mirroring engine revenue production. For commercial airlines seeking long-term ownership financing.
• Willis Lease Pooling Program Global membership program for CFM56-7B engine sharing among member airlines operating Boeing 737 Next-Gen aircraft, providing a web-based reservation system for accessing spare engines with pre-approved terms and conditions.
• Green-time Lease Program that defers significant engine maintenance and shop visit costs by borrowing a green-time engine from Willis, reducing immediate capital outlays for airline customers.
• Willis Engine Repair Center® Fully certified EASA/FAA Part 145 maintenance facility with dual-release capabilities in Coconut Creek, Florida (US) and Bridgend, Wales (UK), providing engine shop visit management, inspections, serviceable material, engine/module exchange programs, and BER analysis. For commercial airlines and MROs.
• Willis Module Shop™ In-house engine module restoration capability at Willis Engine Repair Center, enabling core engine component restoration (initially for CFM56 engines) to reduce maintenance expenses and improve turnaround times. For commercial airlines and MROs.
• Willis Aviation Services Limited (WASL) Aircraft maintenance, storage, disassembly, and ground/cargo handling services at Teesside International Airport with UK CAA, EASA, TCCA, 2-Reg and Cayman Authority approvals for A320 family and B737NG aircraft. For commercial airlines.
• Willis Aeronautical Services, Inc. (Willis Aero) Aeronautical services providing aircraft parts and spares locator services with one of the industry's largest stocks of engine material, supporting engine shop visit management, inspections, and module exchange programs. For commercial airlines and MROs globally.
• Jet Centre by Willis Full-service FBO and ground handling services at Teesside International Airport offering hangar facilities, aircraft washes, crew services, and transportation for business, private aviation, military, and cargo flights.
• Willis Mitsui & Co. Asset Management Limited Aviation asset management services providing technical consultancy and maintenance services for aircraft and engine lifecycle operation and management. For airlines, lessors, and financial institutions.
• Willis Aviation Capital

Named customers11 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• CFM InternationalcoreStrategic or Co-development Partner · 9 February 2026Industry-first partnership for extending operational life of CFM56-5B and CFM56-7B aircraft engines by restoring core components rather than full disassembly. Willis Lease is the first commercial engine lessor to partner with the OEM on this type of engine maintenance initiative. The program enables competitive shop visit pricing while leveraging OEM materials and supports the CFM56 lifecycle extension strategy.
• Nauru AirlinesminorChannel Partner/ Reseller/ Distributor · 4 February 2026Purchase and leaseback agreement for seven CFM56-7B engines supporting Nauru Airlines' Boeing 737-700 and 737-800 fleet for over six years. Includes ConstantThrust® program facilitating seamless engine exchanges for maintenance, supporting the airline's Pacific Ocean operations.
• BNP ParibasminorImplementation/ SI/ Consulting Partner · 5 January 2026BNP Paribas served as sole structuring agent and advisor to Blackstone Credit & Insurance in the $1 billion aircraft engine leasing partnership with Willis Lease Finance.
• Wilton International / McDermottminorStrategic or Co-development Partner · 2 October 2025Willis Sustainable Fuels (WSF), a subsidiary of Willis Lease Finance, entered into a Master Services Agreement with McDermott for its second-generation sustainable aviation fuel (SAF) project at Wilton International in Teesside, UK. The project targets 14,000 metric tons of annual SAF production and received £7.6 million through the UK Government's Advanced Fuels Fund.
• Jet2.comminorChannel Partner/ Reseller/ Distributor · 9 July 2025Long-term base maintenance partnership between Willis Aviation Services Limited and Jet2.com at the Teesside International Airport facility. Jet2.com is a UK-based leisure airline.
• Global Engine Maintenance (Joint Venture)minorStrategic or Co-development Partner · 30 June 2025Joint venture with Global Engine Maintenance announced March 2025 to develop an engine test cell facility, enhancing Willis Lease's in-house MRO capabilities.
• Air India ExpressminorChannel Partner/ Reseller/ Distributor · 27 March 2025Engine sale and leaseback transactions with ConstantThrust® program for Air India Express, the low-cost subsidiary of Air India.
• TUI AirwaysminorChannel Partner/ Reseller/ Distributor · 27 January 2025Long-term ground transportation agreement (GTA) for base maintenance services with TUI Airways at Teesside facility operated by Willis Aviation Services Limited.
• China Aviation Supplies Corporation (Joint Venture: CASC Willis Engine Lease Company)coreStrategic or Co-development Partner · 1 January 2014Joint venture with Chinese partner CASC creating CASC Willis Engine Lease Company, Ltd., headquartered in Shanghai, China, specializing in engine sale/leaseback transactions with Chinese airlines.
• Mitsui & Co. (Joint Venture: Willis Mitsui & Co. Engine Support Limited)coreStrategic or Co-development Partner · 1 January 2011Joint venture established in 2011 creating Willis Mitsui & Co. Engine Support Limited, headquartered in Dublin, Ireland, with an initial $300 million portfolio of 32 engines. The JV provides engine leasing and technical management services to airlines globally. Willis Mitsui & Co. Asset Management Limited was subsequently formed (2016, renamed 2025) to leverage technical consultancy and maintenance services.

Scale indicators18 records

Recent moves14 records

Expansion highlights7 records

Direct peers

• SMBC Aviation Capital: Major aircraft lessor owned by SMBC Group, leasing aircraft to airlines globally. Competes directly with Willis Lease in providing fleet financing solutions to commercial airlines, particularly with strong presence in Asia-Pacific markets.
• BOC Aviation: Asia-headquartered aircraft lessor (subsidiary of Bank of China) serving global commercial airlines. Comparable to Willis Lease in offering aircraft and engine lease financing, with strong presence in the Chinese airline market overlapping with Willis's CASC joint venture.
• Jackson Square Aviation: San Francisco-based aircraft lessor focused on narrowbody aircraft for commercial airlines globally. Competes with Willis Lease in commercial aviation financing with a similar mid-size lessor profile and airline-focused customer base.
• Avolon Aerospace: Global aircraft lessor headquartered in Dublin, Ireland, with a portfolio serving airlines across all regions. Comparable to Willis Lease as an aircraft leasing peer serving the same airline customer base, with overlap in the Dublin-based aviation finance ecosystem.
• Engine Lease Finance: Pure-play aircraft engine lessor historically based in the Channel Islands (now under AeroCentury/Industrial lease management). The most direct engine-only competitor to Willis Lease Finance, with overlapping engine types and airline customer base.
• Aviation Capital Group: Aircraft leasing company (subsidiary of Tokyo Century Corporation) operating a diversified portfolio of aircraft for commercial airlines worldwide. Direct competitor to Willis Lease in commercial aircraft financing and fleet solutions.
• Air Lease Corporation: Publicly traded (NYSE: AL) aircraft lessor serving commercial airlines worldwide with a portfolio of new-technology aircraft. Competes with Willis Lease for the same airline lessee relationships and offers overlapping engine/aircraft financing solutions.
• AerCap Holdings: The world's largest aircraft lessor following its acquisition of GECAS, AerCap leases aircraft and engines to commercial airlines globally. Comparable to Willis Lease as a competing source of engine/aircraft financing for the same airline customer base, though at significantly larger scale.

Regional players

• Nordic Aviation Capital: Specialist regional aircraft lessor headquartered in Denmark, focused on turboprop and regional jet aircraft for smaller carriers. Comparable to Willis Lease in aviation asset leasing with some customer overlap in regional/secondary markets, though focused on regional rather than mainline commercial aviation.

Broad incumbents

• GE Capital Aviation Services (GECAS): Formerly a major aircraft and engine lessor now integrated into AerCap; historically the largest competing aviation lessor to Willis with deep OEM relationships (especially with GE/CFM engines). Comparable as a broad-incumbent aerospace financing platform with overlapping engine leasing capabilities.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/WillisLease
• YouTubeyoutube.com/channel/UCvtXNJ6vViQrST8YQlu8Hlg
• LinkedInlinkedin.com/company/willis-lease-finance-corporation
• Facebookfacebook.com/150147558432903

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries10 records

Funding overview

Funding rounds6 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Willis Lease Finance