Engine lessor Willis Lease Finance Corporation (WLFC) has finalised a deal with RTX's engine manufacturing arm Pratt & Whitney for the purchase and leaseback of up to 15 PW1100G-JM GTF aircraft engines. All purchases are expected to be made by the end of the year. The transaction is valued at approximately $363.9 million.
""By providing efficient capital, while integrating our strategically aligned aftermarket service offerings, we continue to grow our portfolio, investing in more environmentally friendly engines,"" WLFC CEO Austin Willis.
The GTF engines offer up to 17% lower fuel consumption and is certified to operate on 50% sustainable aviation fuel (SAF).
Willis said: ""This [deal] supports our commitment to decarbonising commercial aviation in line with our SAF initiative and we look forward to discussing this as well as our performance in our second quarter earnings call in early August.""
WLFC completed a purchase and leaseback transaction of 25 GTF engines with Pratt & Whitney in early 2021.
