SAS and Willis Lease Execute ConstantAccess Agreement Covering the Airline’s Airbus A340 Fleet
Willis Lease Finance Corporation (Nasdaq: WLFC) announced today that it has entered into a ConstantAccess™ agreement with Scandinavian Airlines System whereby the Company will guarantee availability of CFM56-5C engines to cover requirements due to both planned and unplanned removals of engines powering the airline's fleet of eight A340 aircraft.
“Over the next 36 months, as we transition into our new fleet of latest technology and most fuel efficient Airbus A350 aircraft, the Willis Lease ConstantAccess™ product will play a critical role providing SAS with a seamless and very efficient engine support transition service,” said Niklas Hårdänge, Vice President of Fleet Management for SAS.
“Yet again, we are extremely pleased and proud to continue our long and deep partnership with SAS. By leveraging Willis Lease’s comprehensive inventory of serviceable engines, SAS will avoid any further major shop visits for CFM56-5C engines as they phase out of their A340 fleet in the coming years,” said Charles F. Willis, Chairman and CEO of Willis Lease.