| Business Summary | | Willis
Lease
Finance
Corporation
is
a
provider
of
aviation
services
focusing
on
leasing
aftermarket
commercial
aircraft
engines
and
other
aircraft-related
equipment.
The
Company
provides
this
service
to
passenger
airlines
and
air
cargo
carriers.
As
of
December
31,
2000,
the
Company
had
a
total
lease
portfolio
of
52
lessees
in
23
countries,
and
its
total
lease
portfolio
(including
net
investments
in
direct
finance
leases)
consisted
of
110
engines,
six
aircraft
and
four
spare
parts
packages,
with
an
aggregate
net
book
value
of
$419.9
million.
The
vast
majority
of
the
Company's
leases
to
air
carriers,
manufacturers
and
overhaul/repair
facilities
are
operating
leases
as
opposed
to
finance
leases.
Under
an
operating
lease,
the
Company
retains
title
to
the
aircraft
equipment,
thereby
retaining
the
benefit
and
assuming
the
risk
of
the
residual
value
of
the
aircraft
equipment. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | WLFC
provides
leases
of
spare
commercial
aircraft
engines,
rotable
parts
and
aircraft
to
commercial
airlines,
aircraft
engine
manufacturers
and
overhaul/repair
facilities.
For
the
three
months
ended
3/31/01,
total
revenues
rose
23%
to
$17.1
million.
Net
income
from
continuing
operations
rose
62%
to
$2.5
million.
Revenues
reflect
an
increase
in
the
lease
portfolio.
Net
income
reflects
lower
general
and
administrative
expenses
as
a
percentage
of
sales. Recent Earnings Announcement For
the
3
months
ended
06/30/2001,
revenues
were
19,227;
after
tax
earnings
were
2,969. (Preliminary; reported in thousands of dollars.) | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Charles Willis, IV, 52 Chairman,
Pres, CEO | $1.0M | Nicholas Novasic CFO,
Exec. VP | 239K | Donald Nunemaker, 53 Exec.
VP, CAO | 439K | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|