Willis Lease Finance Repurchases 443,561 Shares of Common Stock for $6.1 Million

NOVATO, Calif., Oct. 18, 2012 (GLOBE NEWSWIRE) — Willis Lease Finance Corporation(Nasdaq:WLFC) announced today that it has repurchased 443,561 shares of common stock at an average price of $13.79 per share for $6.1 million. The shares were purchased under the five-year plan authorized earlier this month by the Board of Directors. Willis Lease has 8.9 million shares of common stock outstanding following these repurchases.

“We continue to deploy capital with the goals of strengthening our business and building shareholder value,” commented Charles F. Willis, Chairman and Chief Executive Officer. “The redemption of our Series A preferred shares scheduled for November 2 is another example of our capital management strategy.”

In the first six months of 2012, Willis Lease generated net income available to common shareholders of $5.0 million, or $0.56 per share, compared to $7.0 million, or $0.78 per share, in the first six months of 2011. Tangible book value per common share was $22.62 at June 30, 2012, compared to $22.24 a year ago.