Willis Lease Finance Corporation and Global Engine Maintenance Form Joint Venture to Build Engine Test Cell Facility
Coconut Creek, FL, March 19, 2025 – Willis Lease Finance Corporation (WLFC), a leading lessor of commercial aircraft engines and global provider of aviation services, announced today that its subsidiary, Willis Engine Repair Center® (WERC®), has entered into an agreement with independent MRO (Maintenance, Repair and Overhaul) provider, Global Engine Maintenance (GEM), to create a joint venture named Willis Global Engine Testing (WGET). The new venture will construct an engine test cell facility in West Palm Beach, Florida.
Background
Willis Lease Finance Corporation (WLFC), founded in 1970, is a leading lessor of commercial aircraft engines with a global fleet of over 4,500 engines. WLFC’s services include engine leasing, engine sales, engine management, and engine repairs. WLFC’s subsidiary, Willis Engine Repair Center (WERC), is a leading provider of engine repair and overhaul services, offering a comprehensive range of services for a wide variety of engines.
The Joint Venture
The new joint venture, Willis Global Engine Testing (WGET), will be a 50-50 partnership between WLFC and GEM. The primary focus of the joint venture will be to build and operate an engine test cell facility in West Palm Beach, Florida. The facility will be equipped with the latest technology and will provide engine testing services for airlines, OEMs (Original Equipment Manufacturers), and other MRO providers. The joint venture’s location in South Florida is strategically important due to the high concentration of aviation businesses in the region.
Benefits
For Willis Lease Finance Corporation:
- Expansion of WERC’s engine repair and overhaul services with the addition of engine testing services
- Increased revenue through provision of engine testing services to a wider customer base
- Competitive edge in the market by offering a one-stop-shop for engine repair, overhaul, and testing services
For Global Engine Maintenance:
- Access to advanced engine testing technology through the partnership
- Expansion of its service offerings with the addition of engine testing services
- Increased revenue through provision of engine testing services to a wider customer base
Impact on Customers
The new engine test cell facility is expected to provide several benefits to customers:
- Faster turnaround times for engine repairs and overhauls due to the availability of engine testing services on-site
- Improved engine performance through precise testing and analysis
- Reduced costs due to the elimination of the need to transport engines to external testing facilities
Impact on the Aviation Industry
The new engine test cell facility in West Palm Beach, Florida, is expected to have a positive impact on the aviation industry as a whole:
- Increased competition in the engine testing market, leading to improved services and lower costs for airlines and MRO providers
- Enhanced safety and reliability through precise engine testing and analysis
- Continued innovation in engine technology through collaboration between WLFC, GEM, and other industry players
Conclusion
The formation of Willis Global Engine Testing (WGET) is a strategic move by Willis Lease Finance Corporation (WLFC) and Global Engine Maintenance (GEM) to expand their engine repair and overhaul services and provide a one-stop-shop for airlines, OEMs, and other MRO providers. The new engine test cell facility in West Palm Beach, Florida, is expected to provide faster turnaround times, improved engine performance, and reduced costs for customers. Additionally, the joint venture is expected to have a positive impact on the aviation industry as a whole, leading to increased competition, enhanced safety and reliability, and continued innovation in engine technology.
The joint venture represents an exciting development in the aviation industry and underscores WLFC’s commitment to providing innovative and comprehensive engine services to its customers. With the latest technology and a strategic location in South Florida, WGET is poised to become a leading player in the engine testing market.
