Willis Lease Q1 revenues 21% down

Engine specialist Willis Lease Finance Corporation reported first quarter pre-tax profit and total revenues of $8.5 million and $81.6 million, respectively – figures that were 21% lower than 2019. The Company’s first quarter 2020 pre-tax results were impacted by both lower revenue in the core leasing business, which was influenced by a reduction in reported asset usage and reduced spare parts sales, and the one-time expense associated with our Willis Engine Structured Trust II re-financing. Aggregate lease rent and maintenance reserve revenues were $66.9 million for the first quarter of 2020. “The Company experienced another quarter of profitability but on