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WLFC reaps rewards from downturn
12 August 2009
Willis Lease Finance Corporation reports robust second quarter and half-year results, pointing to the recessionary benefits of lower borrowing costs and the increased demand for leased engines from airlines keen to conserve capital
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Willis Lease Finance Corporation
Jesse Crews
WLFC
Charles Willis
engines
CFM
With most aviation companies reeling from the “tumultuous impact” of the financial fallout, Willis Lease Finance Corporation (WLFC) says the economic recession has brought benefits in the form of lower borrowing costs.
The company says that today’s historically low interest rates, coupled with growth in its lease portfolio, contributed to its robust second quarter and half year results which it released yesterday.
The company’s net income for the quarter totalled $4.2 million, or 47 cents per common share. Although this was down on the comparative figures for last year - $5.6 million and 65 cents respectively – net income grew for the first half of the year. In the first six months of the year, it increased 5.2% to $10.5 million, or $1.18 per share, compared to $10.00 million, or...
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