Willis Lease Finance Corporation (WLFC) has announced a groundbreaking partnership with CFM International to extend the operational life of CFM56-5B and CFM56-7B engines. This initiative represents a significant shift in the company's approach to managing engine assets, as it allows WLFC to keep these engines in service longer by restoring core components rather than fully disassembling the engine.
As part of this industry-first program, WLFC has identified and inducted an initial group of engines for participation and plans to expand the program across additional assets over time. The company's CEO, Austin C. Willis, emphasized the potential of this program to offer high-quality engine maintenance at a reasonable price, providing added value to customers.
WLFC's partnership with CFM International is expected to provide access to OEM (original equipment manufacturer) materials for servicing their CFM56 engines, extending the benefits of reliability and time on wing well into the future for WLFC's customers. Gaël Méheust, President and CEO of CFM International, underlined the exceptional reliability and longevity of CFM56 engines, which will be further extended through this partnership with WLFC.
This announcement underscores WLFC's commitment to extending engine lifecycles and enhancing its service offerings in the aviation industry. As the leading lessor of commercial aircraft engines, WLFC's leasing activities are integrated with engine and aircraft trading, lease pools, asset management services, and end-of-life solutions for engines and aviation materials, positioning the company as a global provider of comprehensive aviation services. Today the company's shares have moved 6.52% to a price of $184.10. For the full picture, make sure to review WILLIS LEASE FINANCE CORP's 8-K report.
