Willis Lease Finance Corporation (NASDAQ:WLFC) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry Into a Material Definitive Agreement.
On March16, 2018, the Company entered into a definitive agreement with IAE International Aero Engines AG (IAE) for the purchase and delivery of twelve modern technology IAE aircraft engines by December31, 2018. The value of the transaction is up to $150 million at IAE’s 2018 list prices.
About Willis Lease Finance Corporation (NASDAQ:WLFC)
Willis Lease Finance Corporation along with its subsidiaries is a lessor of commercial aircraft engines. The Company operates through two business segments, such as 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. The Spare Parts Sales segment involves the purchase and resale of after-market engine and airframe parts, whole engines, engine modules and portable aircraft components, and leasing of engines destined for disassembly and sale of parts. Its lease portfolio consists of approximately 200 engines and related equipment, 10 aircrafts and five spare engine parts packages. The Company’s business activities also include equipment leasing and spare parts sales.
