Willis Lease Finance (WLFC) said Wednesday its Willis Aviation Services unit has started building a new two-bay hangar at Teesside International Airport in northeastern England.

The hangar will support maintenance for narrow-body aircraft, including Boeing 737 and Airbus A320 models, and will be equipped to handle newer-generation planes, the company said.

The expansion is expected to bring several skilled jobs to the region, it added.

Willis Aviation Services is also working with local colleges and universities to set up training programs for mechanics and apprentices, the company said.

Shares of the company were up 7.2% in recent trading.

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