Willis Lease Finance Corporation ( WLFC ) shares were lower on Thursday after the company finalized engine sale and leaseback agreements with Air India Express, a subsidiary of Air India.

The deal includes 26 CFM56-7B engines powering 13 of its Boeing 737-800 aircraft.

These engines will be maintained under WLFC’s ConstantThrust program, ensuring improved reliability and substantial cost savings compared to traditional MRO shop visits.

WLFC’s ConstantThrust program minimizes the risks and expenses associated with engine overhauls by supplying serviceable engines from its portfolio to replace those requiring maintenance.

This approach streamlines operations by reducing downtime, eliminating maintenance uncertainties, and cutting engine replacement costs, allowing airlines to maintain seamless operations and focus on their core business.

This agreement builds on the 2022 partnership between WLFC and Air India, which covered 34 CFM56-5B engines for the airline’s Airbus A320 fleet.

Both programs will be partially overseen by WLFC's team based in GIFT City, India.

Brian R. Hole, president of Willis Lease Finance Corporation ( WLFC ), said, “We believe Air India Express’ decision to select ConstantThrust evidences that Air India is realizing value from our ConstantThrust program and also validates our team’s performance on that program.”

Price Action: WLFC shares are down 0.56% at $169.51 at the last check Thursday.

Image via Shutterstock

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