Willis Lease Finance Corporation reports first quarter pre-tax loss

Willis Lease Finance Corporation has reported first quarter total revenues of $61.1 million and pre-tax loss of $1.7 million, compared to profit of $8.5 million in the first quarter of 2020. The company reported lower revenue in the first quarter when compared to the prior year period, primarily due to the impact of the COVID-19 pandemic. The lessor commented that the slowdown in global travel continues to impact aircraft and engine utilization as well as demand for aircraft and engine spare parts. For the three months ended March 31, 2021, aggregate lease rent and maintenance reserve revenues were $51.3 million