Willis Lease Finance reports Q2 income

Jet engine lessors Willis Lease Finance Corporation has reported second quarter 2014 net income of $2.2 million, or $0.27 per diluted share, compared to $9.7 million, or $1.17 per diluted share, in the second quarter of 2013, and $4.3 million, or $0.53 per diluted share, in the first quarter of 2014.Earnings for the second quarter of 2013 were increased by a one-time $8.6 million tax benefit related to a reduction in the company’s deferred tax liability, and higher than normal earnings from joint ventures due to the recording of $3.4 million of maintenance reserve revenue related to the termination of