By Sabela Ojea
Willis Lease Finance signed a deal to acquire nine new aircraft engines from Pratt & Whitney, a subsidiary of aerospace and defense company RTX.
The lessor and servicer of commercial aircraft and aircraft engines on Thursday said the deal for the new Pratt & Whitney PW1133G-JM aircraft engines is valued at about $200 million.
All purchases are expected to occur by Dec. 31, the company said.
Willis Lease Finance said the engines enable up to 20% better fuel efficiency compared to aircraft powered by the prior generation of engines.
"This collaboration aligns perfectly with our growth strategy and will help our customers keep their [Airbus] A320 aircraft flying for the foreseeable future," Willis Lease Finance's Chief Executive Austin Willis said.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
December 19, 2024 14:10 ET (19:10 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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