December 11, 2009 (FinancialWire) — Willis Lease Finance Corp. (NASDAQ: WLFC) said that its board of directors has authorized a plan to repurchase up to $30 million of its common stock over the next three years. Willis Lease had 9.2 million shares of common stock outstanding as of September 30, 2009.

The timing of the purchases and the exact number of shares to be purchased will depend on market conditions and subject to all regulatory requirements. The share repurchase program does not include specific price targets or timetables and may be suspended at any time. Depending on financial and market conditions, the program could be terminated prior to completion. Purchases may be made from time to time in the open market, in privately negotiated transactions, or otherwise.

Net income available to common shareholders in the first nine months of 2009 totaled $19.0 million, or $2.13 per diluted common share, compared to $19.9 million, or $2.28 per diluted common share, in the first nine months of 2008. Book value was $20.15 per share at September 30, 2009, compared to $18.68 per share a year.

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Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

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