Willis Aviation Services Limited partners with TUI Airways for long-term aircraft maintenance at Teesside International Airport.
Quiver AI Summary
Willis Lease Finance Corporation (WLFC) announced that its subsidiary, Willis Aviation Services Limited (WASL), has signed a long-term General Terms Agreement with TUI Airways to provide base maintenance services for TUI’s narrowbody aircraft, beginning with maintenance checks on two Boeing 737NGs. The maintenance will be carried out at WASL's facility at Teesside International Airport in Northeastern England. WLFC's CEO, Austin C. Willis, expressed excitement about the collaboration, highlighting the commitment to quality MRO solutions and the creation of skilled job opportunities in the UK aerospace sector. The press release also contains forward-looking statements regarding the company’s operations and industry dynamics, cautioning that actual results may differ from expectations due to various risks and uncertainties.
Potential Positives
- Willis Aviation Services Limited has secured a long-term General Terms Agreement with TUI Airways to provide base maintenance for TUI’s narrowbody aircraft, which enhances the company's service portfolio.
- This partnership with TUI Airways is strategically significant as it highlights WLFC’s reputation in the aviation services sector and fosters collaboration with a well-regarded airline.
- The agreement is expected to contribute to local economic growth by creating skilled job opportunities within the UK aerospace industry, aligning the company with community development goals.
Potential Negatives
- The press release includes numerous forward-looking statements that are accompanied by a broad disclaimer, which may lead to investor uncertainty regarding the company's future performance.
- The potential risks outlined, such as global economic disruptions, regulatory changes, and market value fluctuations, highlight vulnerabilities that may affect the company's stability and growth.
- The mention of various risks associated with the airline industry and the company’s operations could signal underlying challenges that might deter investor confidence.
FAQ
What is the new agreement between Willis Aviation Services Limited and TUI Airways?
Willis Aviation Services Limited has entered a long-term General Terms Agreement to provide base maintenance for TUI's narrowbody aircraft.
Where will TUI's aircraft maintenance be conducted?
The base maintenance services will be conducted at Teesside International Airport in Northeastern England.
What type of aircraft will be serviced under this agreement?
The agreement initially includes maintenance checks for two Boeing 737NG aircraft.
Who is the CEO of Willis Lease Finance Corporation?
Austin C. Willis is the Chief Executive Officer of Willis Lease Finance Corporation.
What are the benefits of this partnership for the UK aerospace industry?
The partnership will contribute to local economic growth and create skilled job opportunities within the UK aerospace industry.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$WLFC Insider Trading Activity
$WLFC insiders have traded $WLFC stock on the open market 86 times in the past 6 months. Of those trades, 0 have been purchases and 86 have been sales.
Here’s a breakdown of recent trading of $WLFC stock by insiders over the last 6 months:
- CHARLES F IV WILLIS (Executive Chairman) has made 0 purchases and 49 sales selling 90,700 shares for an estimated $14,552,115.
- BRIAN RICHARD HOLE (PRESIDENT) has made 0 purchases and 4 sales selling 24,312 shares for an estimated $4,521,905.
- SCOTT B. FLAHERTY (EVP, CFO) has made 0 purchases and 4 sales selling 20,000 shares for an estimated $3,587,869.
- ROBERT J. KEADY has made 0 purchases and 20 sales selling 25,114 shares for an estimated $2,491,795.
- AUSTIN CHANDLER WILLIS (Chief Executive Officer) has made 0 purchases and 6 sales selling 3,450 shares for an estimated $691,103.
- RAE ANN MCKEATING has made 0 purchases and 3 sales selling 1,000 shares for an estimated $170,277.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$WLFC Hedge Fund Activity
We have seen 47 institutional investors add shares of $WLFC stock to their portfolio, and 32 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- M3F, INC. removed 52,500 shares (-8.4%) from their portfolio in Q3 2024, for an estimated $7,812,525
- PEKIN HARDY STRAUSS, INC. added 29,791 shares (+inf%) to their portfolio in Q3 2024, for an estimated $4,433,198
- AMERICAN CENTURY COMPANIES INC added 24,157 shares (+inf%) to their portfolio in Q3 2024, for an estimated $3,594,803
- PHASE 2 PARTNERS, LLC removed 17,965 shares (-25.5%) from their portfolio in Q3 2024, for an estimated $2,673,371
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 16,206 shares (+inf%) to their portfolio in Q3 2024, for an estimated $2,411,614
- CHARLES SCHWAB INVESTMENT MANAGEMENT INC added 14,590 shares (+173.7%) to their portfolio in Q3 2024, for an estimated $2,171,137
- FIRST TRUST ADVISORS LP added 9,929 shares (+inf%) to their portfolio in Q3 2024, for an estimated $1,477,534
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
COCONUT CREEK, Fla., Jan. 27, 2025 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) (“WLFC” or the “Company”), the leading lessor of commercial aircraft engines and global provider of aviation services, announces its subsidiary, Willis Aviation Services Limited (“WASL”), a leading aircraft maintenance, repair and overhaul (“MRO”) provider, has entered into a long-term General Terms Agreement with TUI Airways (“TUI”) to provide long-term base maintenance on TUI’s narrowbody aircraft, starting with two Boeing 737NG maintenance checks. Utilizing its specialized knowledge, WASL will conduct comprehensive base maintenance services for TUI at its expanding facility located at Teesside International Airport in Northeastern England.
“We are thrilled to collaborate with TUI Airways, a highly regarded airline recognized for its customer-centric approach and operational excellence. This partnership underscores our dedication to providing top-tier MRO solutions, supporting TUI’s fleet, and contributing to local economic growth by creating skilled job opportunities within the UK aerospace industry,” 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.
Except for historical information, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties. Do not unduly rely on forward-looking statements, which give only expectations about the future and are not guarantees. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include, but are not limited to: the effects on the airline industry and the global economy of events such as war, terrorist activity and the COVID-19 pandemic; changes in oil prices, rising inflation and other disruptions to world markets; trends in the airline industry and our ability to capitalize on those trends, including growth rates of markets and other economic factors; risks associated with owning and leasing jet engines and aircraft; our ability to successfully negotiate equipment purchases, sales and leases, to collect outstanding amounts due and to control costs and expenses; changes in interest rates and availability of capital, both to us and our customers; our ability to continue to meet changing customer demands; regulatory changes affecting airline operations, aircraft maintenance, accounting standards and taxes; the market value of engines and other assets in our portfolio; and risks detailed in the Company’s Annual Report on Form 10-K and other continuing and current reports filed with the Securities and Exchange Commission. It is advisable, however, to consult any further disclosures the Company makes on related subjects in such filings. These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.
CONTACT: | Lynn Mailliard Kohler |
Director, Global Corporate Communications | |
(415) 328-4798 | |