Willis Lease Finance Corporation announces that Charles F.
COCONUT CREEK, Fla., March 07, 2022 (GLOBE NEWSWIRE) — Willis Lease Finance Corporation (NASDAQ: WLFC) (“Willis Lease”) announced today that Austin C. Willis, son of Charles F. Willis, has been named the new Chief Executive Officer (“CEO”) of Willis Lease, effective April 1, 2022. Charles F. Willis, Founder and Chief Executive Officer of Willis Lease, will become Executive Chairman of the Board of Directors when Austin C. Willis will assume the position of CEO.
Austin C. Willis has had a broad and diverse career in aviation, most recently serving as Senior Vice President of Corporate Development for Willis Lease since 2017, as well as serving on the Board of Directors of Willis Lease since 2008. Previously, he was the founder and CEO of JT Power LLC. , a private aviation parts and rental company, which he established in 2004. Mr. Willis also proudly served as a “Green Beret” in the 20th Special Forces Group. He received his bachelor’s degree in industrial relations from the London School of Economics and Political Science.
“I am happy to make this transition. Austin gained recognition. After 50 years in the industry and many challenges as well as successes, I look forward to continuing to guide our business. There have always been inflection points, and these will continue,” said Charles F. Willis. “I also look forward to working on strategic programs, as well as working with the banking community and capital markets,” added Mr. Willis.
“Through his successful past five years as SVP of Corporate Development, Austin C. Willis has gained a wealth of knowledge about Willis Lease and its current and future business lines,” said Dr. Hans Joerg Hunziker, long-time board member. “And, with his proven leadership skills in the U.S. military, Austin will certainly motivate and help his most valuable personnel weather geopolitical storms and seize new market opportunities,” added Dr. Hunziker.
Willis Lease Finance Corporation
Willis Lease Finance Corporation leases spare large and regional commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repair and overhaul providers in 120 countries. These leasing businesses are integrated with engine and aircraft trading, engine leasing pools and asset management services backed by advanced technology through its subsidiary, Willis Asset Management Limited, as well as various end-of-life solutions for aircraft engines and equipment provided by 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 place undue reliance 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 the forward-looking statements. Factors that could 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 activities, changes in oil prices and other disruptions in global markets; trends in the airline industry and our ability to capitalize on these trends, including market growth rates and other economic factors; risks associated with owning and leasing jet engines and aircraft; our ability to successfully negotiate equipment purchases, sales and leases, collect amounts due and control costs and expenses; changes in interest rates and the availability of capital, both to us and to our customers; our ability to continue to meet 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 Willis’ Annual Report on Form 10-K and other ongoing reports filed with the Securities and Exchange Commission.
|CONTACT:||Dean M. Poulakidas|
|SVP and General Counsel|