COCONUT CREEK, Fla., March 13 (Bernama-GLOBE NEWSWIRE) — Willis Lease Finance Corporation (NASDAQ: WLFC) today reported a record annual pre-tax profit of $56.3 million, from $36.0 million in 2017, including record total revenues of $348.3 million. The Company’s 2018 pretax results were driven by continued revenue growth in the core leasing business and an increase in spare parts and equipment sales. Aggregate lease rent and maintenance reserve revenues of $262.6 million were driven by high utilization of a lease portfolio that grew 24.6% to $1.673 billion at year-end.
“We are very pleased to have delivered strong performance across the Willis Lease Platform in 2018,” said Charles F. Willis, Chairman and CEO. “Our global client base is recognizing the value of our vertically integrated offering of core lease services, materials, fleet transition solutions, asset management and materials services.”