News & Analysis » US

Willis Lease Finance Inks Deal With SuperJet International For Up To US$300 Mln - Quick Facts

(RTTNews) - Willis Lease Finance Corporation (WLFC, WLFCP) said it has signed an agreement with SuperJet International to purchase six Sukhoi Superjet or SSJ 100 aircraft and options for four additional aircraft. The memorandum of understanding has a value of up to US$300 million under current list pricing and economic conditions.

The company said the deal refers to the SSJ100/95 LR aircraft model in the 98 seat configuration with the first delivery scheduled for September 2012.

Charles Willis, president and chief executive of Willis Lease said, "Based on early operating tests, the Sukhoi Superjet 100 may be able to deliver operating efficiencies of 10% or better over competing aircraft models."

Willis continued, "The international consortium of companies involved in the launch of this aircraft, include Powerjet which is comprised of NPO Saturn -- the major Russian engine manufacturer -- and Snecma, the French worldwide leader of engines for the SSJ 100 as well as the CFMI brand. In addition, the premier Russian aircraft manufacturer Sukhoi and the major Italian aerospace leader Alenia Aeronautica, a Finmeccanica Company, will provide an entry into these strategic new markets."

"By becoming the first US-based company to join this prestigious alliance, we can benefit from attractive financing alternatives and take a leading role in introducing this innovative aircraft to our global customer base," Willis added.