WILLIS LEASE FINANCE CORP has recently released its 10-Q report. The company, through Willis Lease Finance Corporation and its subsidiaries, leases and services commercial aircraft and aircraft engines worldwide, with operations split between Leasing and Related Operations and Spare Parts Sales. It also buys and resells aircraft engines, parts and other equipment, and provides maintenance, repair, overhaul and related services to commercial operators and maintenance organizations.
For the three months ended June 30, 2026, total revenue was $194.0 million, down slightly from $195.5 million a year earlier. Lease rent revenue rose 6.7% to $77.1 million, helped by a larger average portfolio, while maintenance reserve revenue fell 8.4% to $46.5 million and spare parts and equipment sales dropped 30.2% to $21.2 million. Interest revenue declined 67.6% to $1.2 million, but gain on sale of leased equipment increased to $32.0 million from $27.6 million.
At June 30, 2026, Willis Lease had $2.7834 billion of equipment in its operating lease portfolio, $89.3 million of notes receivable and $83.6 million of maintenance rights, representing 334 engines, 22 aircraft, one marine vessel and other leased assets. Average utilization was 85.0%, down from 87.2% a year earlier. The company had 73 lessees in 42 countries and managed 145 engines, one airframe and related equipment for third parties.
Maintenance services revenue increased 11.9% to $9.0 million, while management and advisory fees more than doubled to $5.5 million, driven by $2.8 million of fees from the LMI Fund and the BXCI Fund. General and administrative expenses climbed 10.2% to $55.6 million, including a $2.7 million increase in legal fees tied to financing and strategic initiatives, partly offset by a $3.4 million drop in personnel costs. Technical expense rose 20.1% to $9.9 million, and depreciation and amortization increased 5.5% to $29.1 million.
The company recorded $4.9 million of equipment write-downs in the quarter, compared with $11.5 million a year earlier. Net finance costs increased 4.6% to $35.1 million, including a $5.4 million loss on debt extinguishment tied to refinancing and capital restructuring. Willis Lease also sold 21 engines and other parts and equipment from its lease portfolio for $224.8 million, producing a $32.0 million gain, versus 14 engines, two airframes and other assets sold for $91.1 million and a $27.6 million gain in the prior-year quarter.
In July 2026, the company agreed to acquire WNG II Aircraft Leasing (Cayman) Ltd. and WNG Aircraft Management 3, LLC for a base price of about $379.3 million, subject to adjustments and closing conditions. It also completed a three-for-one forward stock split on July 17, 2026, with split-adjusted trading beginning July 21, 2026. Today the company's shares have moved 0.92% to a price of $73.31. For more information, read the company's full 10-Q submission here.
