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2016-10-26

Willis Lease Finance Purchases the Business and Assets of Total Engine Support Limited

Willis Lease Finance Corp.
Press release

Willis Lease Finance Purchases the Business and Assets of Total Engine Support
Limited

NOVATO, Calif., 2016-10-26 20:43 CEST (GLOBE NEWSWIRE) -- Willis Lease Finance
Corporation (Nasdaq:WLFC) announced today that its wholly owned subsidiary,
Willis Asset Management Limited, has purchased the business and assets of Total
Engine Support Limited (“TES”), the consulting and asset management business of
the TES Aviation Group. TES is headquartered in Bridgend, Wales (UK). With
roughly 500 jet engines under management, TES is well known in the aviation
industry as a leading asset management, technical services and consultancy
business. TES delivers bespoke, customer driven solutions to the owners and
operators of aviation assets by leveraging a highly skilled work force,
proprietary systems and decades of engine related data. Going forward, the same
exceptional TES consultancy and management services will be offered through
Willis Asset Management, with the further advantage for customers of access to
the Willis Lease Finance platform, capital and nearly 250 owned and managed
engines.

“We have discussed for many years the goal of turning our world class technical
team into a source of revenue by developing an asset management and technical
services business and we began marketing these services, with great success, to
our customers last year,” said Charles F. Willis, Chairman and CEO. “With this
investment, we have taken a significant leap forward in that process by
bringing on the exceptional people who made TES the leader in engine
consultancy and management, as well as the customer relationships,
sophisticated systems and data that could have taken us years to develop on our
own. We also are very excited to join the business community in Wales and look
forward to growing the business quickly to deliver and enhance the great
services that TES has provided for many years.”

“While we continue to grow our core leasing business, this investment allows us
to expand horizontally, offering products and services across the asset life
cycle that are complementary to the financing and surplus material solutions we
already offer,” said Brian R. Hole, President of Willis Lease. “We believe that
combining TES’s people and capabilities with our people, capital and existing
assets gives us the ability to offer our combined customer base a very unique
value proposition -- an independent and sophisticated view on fleet planning,
owning, financing, operating, maintaining and transitioning out of aviation
assets, as well as the ability to deliver solutions in each area. Whether
through pure consultancy and management services, ordinary financing or custom
programs like ConstantThrustTM, where we deliver asset financing and
maintenance protection in one package, our goals are to help extract maximum
value from owned or operated assets, give customers an independent
understanding of their options, and deliver value-added solutions. We intend to
demonstrate this value proposition, starting immediately.”

About Willis Lease Finance

Willis Lease Finance Corporation leases large and regional spare commercial
aircraft engines, auxiliary power units and aircraft to airlines, aircraft
engine manufacturers and maintenance, repair and overhaul providers in 120
countries. These leasing activities are integrated with engine and aircraft
trading, engine lease pools supported by cutting-edge technology, as well as
technical and asset management, provided through its subsidiary Willis Asset
Management Limited, and various end-of-life solutions for aircraft, engines and
aviation materials provided through its subsidiary, Willis Aeronautical
Services, Inc.

Except for historical information, the matters discussed in this press release
contain forward-looking statements that involve risks and uncertainties. Do
not unduly rely on forward-looking statements, which give only expectations
about the future and are not guarantees. Forward-looking statements speak only
as of the date they are made, and we undertake no obligation to update them.
Our actual results may differ materially from the results discussed in
forward-looking statements. Factors that might cause such a difference
include, but are not limited to: the effects on the airline industry and the
global economy of events such as terrorist activity, changes in oil prices and
other disruptions to the world markets; trends in the airline industry and our
ability to capitalize on those trends, including growth rates of markets and
other economic factors; risks associated with owning and leasing jet engines
and aircraft; our ability to successfully negotiate equipment purchases, sales
and leases, to collect outstanding amounts due and to control costs and
expenses; changes in interest rates and availability of capital, both to us and
our customers; our ability to continue to meet the changing customer demands;
regulatory changes affecting airline operations, aircraft maintenance,
accounting standards and taxes; the market value of engines and other assets in
our portfolio; and risks detailed in the Company’s Annual Report on Form 10-K/A
and other continuing reports filed with the Securities and Exchange Commission.

CONTACT: Scott B. Flaherty
Chief Financial Officer
(415) 408-4700

Författare SSE

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