Willis Lease Finance Corporation (WLFC) has secured a five-year agreement with Pratt & Whitney to provide storage and lease return services for a range of commercial aircraft engine types.
Under the long-term deal, WLFC will support the engine manufacturer's growing aftermarket storage requirements from facilities in Coconut Creek, Florida, and Bridgend, Wales.
The agreement covers PW1100G-JM, PW1500G, PW1900G, PW4000 and IAE AG V2500 engines.
The contract builds on the companies' longstanding relationship and follows Pratt & Whitney's review of the technical capabilities at the Willis Engine Repair Center (WERC), including its maintenance and storage training initiatives.
Austin C. Willis, chief executive of WLFC, said: "This agreement reflects the confidence Pratt & Whitney has placed in our team, facilities and technical capabilities.
"Over the past year we have worked closely together to align operational requirements, demonstrating the strength of WERC's existing technical capabilities.
"We are pleased to further expand our relationship and help meet the evolving demands of the global aftermarket."
WLFC said the agreement supports its strategy of expanding its integrated aviation services while increasing storage capacity to meet rising aftermarket demand.
