Willis Lease Finance Corporation (WLFC) stock is soaring 6.02% in pre-market trading on Thursday, following two significant announcements that signal major changes for the company. The aviation finance company has revealed plans to sell its Bridgend Asset Management division and restructure its consultancy and advisory services.
According to an SEC filing, Willis Lease Finance has agreed to sell Bridgend Asset Management to WMES for $45 million. This move is likely seen by investors as a strategic decision to streamline operations and boost the company's cash position. The substantial sale price suggests that Bridgend Asset Management was a valuable part of Willis Lease Finance's portfolio, and the transaction could provide significant capital for future investments or debt reduction.
In a related development, Willis Lease Finance announced the transfer of its consultancy and advisory arm to Willis Mitsui & Co. Engine Support Limited. This restructuring appears to be part of a broader strategy to optimize the company's business model and potentially leverage partnerships for growth. The move to Willis Mitsui & Co. Engine Support Limited, likely a joint venture or affiliated entity, could enhance the company's market position and operational efficiency in the aviation services sector.
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