Willis Lease Finance Corporation has completed its acquisition of WNG II Aircraft Leasing (Cayman) Ltd. and WNG Aircraft Management 3, LLC, securing a portfolio of 12 commercial aircraft and 13 spare aircraft engines. The transaction, closed by the company’s Willis Dallas subsidiary, follows a purchase agreement reached in July and adds to Willis Lease’s aviation asset platform from its headquarters in Coconut Creek, Florida.
The deal gives Willis Lease control of assets held through Cayman, Irish and other owning entities, with the company planning to deploy 10 of the engines and six aircraft into joint venture or managed investment structures. That approach points to a mix of direct ownership and managed deployment across its portfolio.
The base purchase price was $379.3 million, with the closing adjusted to about $262.9 million after contractual deductions, deposits, holdbacks, debt repayment and reimbursements. A $1.5172 million amount will remain withheld for nine months to cover potential pre-closing leakage. Willis Lease has linked the purchase to broader use of its leasing, technical and aftermarket capabilities across the acquired assets.