KUALA LUMPUR, Nov 7 (Bernama) -- Willis Lease Finance Corp (WLFC) reported a pre-tax profit of US$13.3 million in the third quarter of 2018, including record quarterly lease rent revenue of US$47.0 million. (US$1 = RM4.17)
Leasing results were driven by continued high utilization and 18.5 per cent growth of its portfolio to US$1.590 billion at quarter-end compared to US$1.343 billion at December 31, 2017.
The aggregate lease rent and maintenance reserve revenues were US$66.4 million for the third quarter 2018, up 23.2 per cent from the comparable period in 2017, a statement said.
The company also reported its total revenue grew by 18.4 per cent to US$78.0 million in the third quarter of 2018, compared to US$65.9 million in the comparable prior year period.
It had a total lease portfolio consisting of 250 engines, 14 aircraft and 10 other leased parts and equipment with a net book value of US$1.590 billion as of September 30, 2018.
“Demand for engines, parts and technical services grew in the third quarter and our financial results reflect that our platform is uniquely situated to deliver value for our customers across the spectrum,” said President, Brian R. Hole.
“While our priority is to deliver for customers today, we are always looking for ways to grow the platform with new and innovative products and programs for tomorrow,” he added in a statement.
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.
-- BERNAMA
No comments:
Post a Comment