Willis Lease Finance Corporation (Willis Lease) has announced that it purchased twenty-five PW1100G-JM and PW1500G GTF aircraft engines from Pratt & Whitney. 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 over $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,” said Austin C. Willis, SVP of Corporate Development at Willis Lease.
This puts Willis Lease in a good position for the expected boom in engine requirements over the course of 2021/22