Willis Lease Finance Corporation reported a significant increase in financial performance for the first quarter of 2026, with total revenue reaching $194.3 million, a 23.2% increase from $157.7 million in the same period of 2025. The growth was driven by various factors, including a 14.2% rise in lease rent revenue to $77.4 million, and a notable 304.8% increase in gains from the sale of leased equipment, which amounted to $18.0 million. The company also saw a substantial rise in management and advisory fees, which surged to $7.9 million, primarily due to the commencement of operations for the LMI Fund, where Willis serves as the general partner.
In terms of profitability, net income attributable to common shareholders increased to $23.7 million, or $3.49 per share, compared to $15.5 million, or $2.34 per share, in the prior year. This represents a 52.9% increase in net income, reflecting improved operational efficiency and higher revenue generation. The company’s total assets decreased to $3.5 billion from $3.9 billion at the end of 2025, largely due to a reduction in restricted cash and debt obligations, which fell to $2.3 billion from $2.7 billion.
Operationally, Willis Lease Finance Corporation managed a diverse portfolio, including 342 engines and 20 aircraft, with an average utilization rate of approximately 85.8%, up from 79.9% in the previous year. The company also expanded its customer base, serving 70 lessees across 40 countries. The increase in customer engagement and utilization rates contributed to the overall revenue growth, particularly in lease rent and maintenance services.
Strategically, the company has made significant moves, including the establishment of the LMI Fund and the BXCI Fund, which are expected to enhance its investment capabilities in aircraft engine financing. Additionally, Willis has been active in selling assets, including 14 engines during the quarter, which contributed to the gains reported. The company also terminated its WWFL credit facility and amended its existing revolving credit facility, increasing total commitments to $1.75 billion, which will support future growth initiatives.
Looking ahead, Willis Lease Finance Corporation remains cautious about potential impacts from macroeconomic factors such as interest rate fluctuations and inflation. The company is committed to evaluating these risks while continuing to focus on its growth strategy and operational efficiency. The management anticipates that the ongoing expansion of its leasing portfolio and strategic partnerships will further bolster its financial performance in the upcoming quarters.
About WILLIS LEASE FINANCE CORP
Willis Lease Finance Corporation is a leading lessor and servicer of commercial aircraft, engines, and related equipment. It generates revenue through leasing, management fees, and spare parts sales, serving global airlines, MROs, and aircraft operators. The company focuses on asset management, lease portfolio optimization, and aftermarket services, leveraging technical expertise, diversified markets, and strategic joint ventures to provide flexible leasing solutions and maximize asset value.
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