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Company’s strategic investments highlight its commitment to fostering regional prosperity and creating valuable job opportunities in Teesside
COCONUT CREEK, Fla., April 23, 2025 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) the leading lessor of commercial aircraft engines and global provider of aviation services, is pleased to announce its subsidiary, Willis Aviation Services Limited (“WASL”), a leading aircraft maintenance, repair and overhaul (“MRO”) provider, has commenced construction of an additional two-bay narrowbody hangar at its growing operations at Teesside International Airport (“Teesside”) in Northeastern England. The new hangar will be equipped for 737 and A320 family aircraft, including new-generation models.
Demand for aircraft heavy maintenance is exceptionally high, with global and European capacity falling short. Airlines must plan ahead to secure maintenance slots, as most MROs are at full capacity, making last-minute bookings difficult. The Company’s expansion plans add capacity to the UK’s MRO sector, addressing this industry gap. The new facility is expected to create a significant number of new highly-skilled jobs at Teesside. In partnership with local universities and colleges, WASL has laid the groundwork to launch training programs for new mechanics and apprentices, creating a sustainable pipeline of talent that supports both immediate operational needs and long-term skill development in the region.
“We made a promise to create several hundred jobs in Northeast England, and we are proud to be delivering on that commitment. We are following through on our pledge to establish and expand our services in this region and beyond. Our integrated services businesses support third-party customers, as well as the Company’s owned and managed assets, driving meaningful growth and opportunity in the communities we serve,” said Austin C. Willis, Chief Executive Officer of WLFC.
Willis Lease Finance Corporation
Willis Lease Finance Corporation (“WLFC”) leases large and regional spare commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repair, and overhaul providers worldwide. These leasing activities are integrated with engine and aircraft trading, engine lease pools and asset management services through Willis Asset Management Limited, as well as various end-of-life solutions for engines and aviation materials provided through Willis Aeronautical Services, Inc. Through Willis Engine Repair Center®, Jet Centre by Willis, and Willis Aviation Services Limited, the Company’s service offerings include Part 145 engine maintenance, aircraft line and base maintenance, aircraft disassembly, parking and storage, airport FBO and ground and cargo handling services. Willis Sustainable Fuels intends to develop, build and operate projects to help decarbonize aviation.