WLFC Sells Advisory Arm to Mitsui & Co. Joint Venture

By Philip Seaworth • Tuesday, July 01 10:22 • Permanent Link

Willis Lease Finance Corporation (NASDAQ: WLFC) has completed the sale of its consultancy and advisory arm, Bridgend Asset Management Limited (BAML), to Willis Mitsui & Co. Engine Support Limited (WMES), a joint venture with Mitsui & Co., Ltd. Following the sale, BAML has been renamed to Willis Mitsui & Co. Asset Management Limited (WAML). This move is expected to strengthen the WMES platform by integrating technical consultancy and records management services into its operations. WMES, established in 2011, now manages assets totaling approximately $380 million, with expectations of further growth due to its expanded service offerings.

As a result of this transaction, WLFC remains a 50% owner of WMES and will continue to leverage its services to support its leasing operations while focusing on strategic initiatives to grow its aviation portfolio. Austin C. Willis, the CEO of WLFC, called this sale a "milestone" for the company and its partnership with Mitsui, positioning them for significant growth in the joint venture. Yuichi Nagata, the general manager of the aerospace business division at Mitsui, emphasized that this transaction deepens the collaboration with WLFC and expands the scope of WMES, enabling them to better serve the growing demands of the global aviation market.

In addition to the sale of BAML, WLFC also engages in leasing spare commercial aircraft engines, auxiliary power units, and aircraft to various entities worldwide. Furthermore, the company offers engine and aircraft trading, engine lease pools, and asset management services through Willis Asset Management Limited, as well as end-of-life solutions for engines and aviation materials provided through Willis Aeronautical Services, Inc. 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.

Lastly, Willis Sustainable Fuels, a subsidiary of WLFC, aims to develop, build, and operate projects to help decarbonize aviation. The market has reacted to these announcements by moving the company's shares -4.07% to a price of $142.78. For the full picture, make sure to review WILLIS LEASE FINANCE CORP's 8-K report.

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