Willis Lease Finance To Buy Nine Advanced GTF Engines From Pratt & Whitney

(RTTNews) - Willis Lease Finance Corp. (WLFC), a lessor of commercial aircraft engines and provider of global aviation service operations, Thursday said it has entered into a transaction with Pratt & Whitney for the purchase of nine new PW1133G-JM aircraft engines.

All purchases are expected to occur by December 31, 2024. Pratt & Whitney's GTF engines enable up to 20% better fuel efficiency compared to aircraft powered by the prior generation of engines, are certified for operation on 50% sustainable aviation fuel and have been successfully tested on 100% SAF.

The transaction, valued at about $200 million based on Pratt & Whitney's 2024 list prices, is another big step towards providing the most modern and in-demand engines to airlines over the long term. Pratt & Whitney is an RTX (RTX) business.

"We are thrilled to deepen our partnership with Pratt & Whitney as we continue to invest in cutting-edge, fuel-efficient, engines that deliver environmental benefits. This collaboration aligns perfectly with our growth strategy and will help our customers keep their A320 aircraft flying for the foreseeable future," said Austin C. Willis, WLFC's Chief Executive Officer.