Exhibit 99.1

Willis Lease Finance Reports First Quarter Pretax Profit Grew 104% to $14.4 Million

NOVATO, CA —May 8, 2017 — Willis Lease Finance Corporation (NASDAQ: WLFC) today reported that pretax income grew 104% to $14.4 million in the first quarter of 2017 compared to $7.1 million in the first quarter of 2016 on revenues of $77.9 million. The Company’s first quarter 2017 results were bolstered by $32.0 million of maintenance reserve revenue, of which $21.5 million was long term maintenance revenue related to assets coming off lease. These revenues were offset by related non-cash write downs totaling $13.0 million. Net income attributable to common shareholders for the first quarter increased 95.4% to $7.8 million, or $1.26 per diluted share, from $4.0 million, or $0.55 per diluted share, in the first quarter of 2016.

“We continue to produce strong pre-tax financial results in 2017, realizing our most profitable quarter since 2008,” said Charles F. Willis, Chairman and CEO.  “Utilization remains strong at 89% at the end of the first quarter, our lease portfolio is growing and Willis Aero is delivering better than expected revenues and margin.”

“Our complementary leasing, surplus material and trading businesses performed well, resulting in the Company achieving record quarterly revenues of $78 million,” said Brian R. Hole, President. “We do not expect to repeatedly earn such large long-term maintenance reserve revenues but our pre-tax income exceeded expectations even without the net impact of long-term reserve revenue and non-cash writedowns. We continue to actively manage the portfolio in an effort to maximize cash and margin efficiency.”

First Quarter 2017 Highlights (at or for the periods ended March 31, 2017, compared to March 31, 2016, and December 31, 2016):

·                  Total revenue grew 53.7% to $77.9 million in the first quarter of 2017 from $50.7 million in the year ago period.

·                  Average utilization in the first quarter of 2017 was 89% as compared to 92% in the preceding quarter and 87% in the year ago comparable period.

·                  First quarter lease rent revenue was $30.2 million, up 6.9% year-over-year and down 3% from the prior quarter.

·                  Maintenance reserve revenue increased 102% to $32 million compared to $15.8 million and $11.5 million in 1Q16 and 4Q16, respectively.

·                  The Company purchased $40.3 million of assets in the first quarter of 2017, and sold $32.7 million of assets.

·                  During the quarter the Company recorded a $13 million non-cash writedown associated with the disposition, retirement and part out of certain assets.

·                  The equipment portfolio grew 1.0% in the first quarter of 2017 to $1.095 billion compared to 1Q16.

·                  Tangible book value per share increased 1% to $31.49 at March 31, 2017, compared to $30.66 at the end of the first quarter 2016.

·                  A total of 40,479 shares of common stock were repurchased in the quarter under the Company’s five-year repurchase plan for $0.9 million.

·                  Liquidity available from the revolving credit facility was $305 million at March 31, 2017, up from $161 million a year ago.

·                  Willis Aero spare parts sales totaled $6.2 million with a margin of $1.5 million in the first quarter of 2017.  In the year ago period, spare parts sales were $2.6 million with a margin of $0.7 million.

·                  Trading equipment sales in the first quarter of 2017 were $6.4 million, with a margin of $1.7 million.

Balance Sheet

As of March 31, 2017, Willis Lease had 209 commercial aircraft engines, 9 aircraft and 5 aircraft parts packages and other engine-related equipment in its lease portfolio, with a net book value of $1.095 billion, compared to 201 commercial aircraft engines, 10 aircraft, 5 aircraft parts packages, and other engine-related equipment in its lease portfolio, with a net book value of $1.084 billion a year ago.  The Company’s funded debt-to-equity ratio was 4.24 to 1 at quarter end compared to 4.59 to 1 at December 31, 2016, and 4.06 to 1 a year ago.

Willis Lease Finance

Willis Lease Finance Corporation leases large and regional spare commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repair and overhaul providers in 120 countries. These leasing activities are integrated with engine and aircraft trading, engine lease pools and asset management services supported by cutting edge technology through its subsidiary Willis Asset Management, as well as various end-of-life solutions for aircraft, engines and aviation materials provided through its subsidiary, Willis Aeronautical Services, Inc.

Except for historical information, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties.  Do not unduly rely on forward-looking statements, which give only expectations about the future and are not guarantees.  Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them.  Our actual results may differ materially from the results discussed in forward-looking statements.  Factors that might cause such a difference include, but are not limited to: the effects on the airline industry and the global economy of events such as terrorist activity, changes in oil prices and other disruptions to the world markets; trends in the airline industry and our ability to capitalize on those trends, including growth rates of markets and other economic factors; risks associated with owning and leasing jet engines and aircraft; our ability to successfully negotiate equipment purchases, sales and leases, to collect outstanding amounts due and to control costs and expenses; changes in interest rates and availability of capital, both to us and our customers; our ability to continue to meet the changing customer demands; regulatory changes affecting airline operations, aircraft maintenance, accounting standards and taxes; the market value of engines and other assets in our portfolio; and risks detailed in the Company’s Annual Report on Form 10-K and other continuing reports filed with the Securities and Exchange Commission.

WILLIS LEASE FINANCE CORPORATION AND SUBSIDIARIES

Consolidated Statements of Income (Loss)

(In thousands, except per share data, unaudited)

WILLIS LEASE FINANCE CORPORATION AND SUBSIDIARIES

Consolidated Balance Sheets

(In thousands, except share data, unaudited)

Note:  Transmitted on GlobeNewswire on May 8, 2017, at 6:00 am PT