Willis Lease Finance Corporation Expands MRO Services with 250-Year Lease at Teesside International Airport

COCONUT CREEK, Fla., Oct. 21, 2025 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) (“WLFC”), the leading lessor of commercial aircraft engines and global provider of aviation services, announced today that its subsidiary, Willis Aviation Services Limited (“WASL”), a premier provider of aircraft maintenance, repair and overhaul (“MRO”) services, has signed a 250-year lease for an additional 50 acres at Teesside International Airport (“Teesside”) in Northeastern England.

The agreement reflects WASL’s long-term confidence in the Northeast England region and the expansion will increase maintenance, repair and overhaul (“MRO”) services capacity.

“With this acquisition, we take another strategic step toward offering end-to-end aviation services and supporting the continued growth of the United Kingdom’s aviation industry,” said Charles F. Willis, WLFC’s Executive Chairman.

Phil Forster, Managing Director of Teesside Airport, said: "WLFC has been a fantastic supporter of Teesside Airport for many years, and this long-lease agreement is a huge step in their commitment to our airport and our region.

“Their investment in a new twin-bay hangar launched this week, and the new maintenance contracts they’ve secured in the past year, show just how serious their team is when it comes to growing here and creating more well-paid, skilled jobs in Teesside.

“Teesside is fast becoming the go-to place for aircraft maintenance, repair and overhaul, and we’re taking big strides forward in becoming an ideal one-stop shop for major operators. This is a hugely significant moment for Teesside Airport and a major milestone in securing the airport’s long-term future."

Tees Valley Mayor Ben Houchen said: "When we saved our airport from closure, we did it because it was the right thing to do. We also believed it had the huge potential to bring so many more jobs for local people and more investment.

“Securing more holiday flights will always be vital, and I’ll never lose sight of that, but the airport has always needed to be about much more than that. The airport is now a hive of activity where we are using the land to grow a brilliant business park and making it a place where major international firms can invest and thrive.

“Willis’s decision to make this long-term investment shows both their confidence in Teesside and in our vision for the airport’s future. It’s a hugely important step that will help put Teesside Airport on a more secure financial footing for years to come and bring hundreds more well-paid jobs for people to build their careers here.”

About Willis Lease Finance Corporation

Willis Lease Finance Corporation 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 various end-of-life solutions for engines and aviation materials provided through Willis Aeronautical Services, Inc. Additionally, 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.

Forward-Looking Statements

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. By their nature, forward-looking statements involve a number of inherent risks, uncertainties and assumptions and are subject to change in circumstances that are difficult to predict and many of which are outside of our control. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. 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, either expressly or implicitly, 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 natural disasters; 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, as well as the impact of new or increased tariffs; 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.