Exhibit 99.1

Willis Lease Finance Earns $2.2 Million in 2Q14

NOVATO, CA —August 6, 2014 — Willis Lease Finance Corporation (NASDAQ: WLFC), the premier independent jet engine lessor in the commercial finance sector, today reported second quarter 2014 net income was $2.2 million, or $0.27 per diluted share, compared to $9.7 million, or $1.17 per diluted share, in the second quarter of 2013, and $4.3 million, or $0.53 per diluted share, in the first quarter of 2014. Earnings for the second quarter of 2013 were positively impacted by a one-time $8.6 million tax benefit related to a reduction in the company’s deferred tax liability and higher than normal earnings from joint ventures due to the recording of $3.4 million of maintenance reserve revenue related to the termination of aircraft leases within the WOLF joint venture.

“Our core earnings have shown considerable improvement this year compared to last year, with pretax income growing 88% in the second quarter and increasing 128% in the first half of the year,” said Charles F. Willis, Chairman and CEO. “We continue to build a dynamic business model that has demonstrated long-term vibrancy through multiple market cycles.”

“In the second quarter, we completed two major projects that will provide significant opportunities for future growth,” Willis continued. “After more than a year of discussions and negotiations, we signed a ground-breaking joint venture agreement with China Aviation Supplies Import & Export Corporation Limited (“CASC”), China’s leader in aviation supplies trade, distribution and logistics. This joint venture called CASC Willis Engine Leasing Company, Ltd. will be the primary leasing vehicle we will use to pursue engine leasing and related services in China in the future.  We also successfully renewed and extended our revolving credit facility, upsizing the debt facility by $250 million to $700 million in an offering that was substantially oversubscribed. Three new banks joined the facility and all nine banks in the prior revolver either maintained or increased their commitment levels. We are pleased to be partnering with some of the most prestigious companies in the aviation and banking communities to grow our engine fleet and further expand the services that meet the needs of our airline customers and build value for our shareholders.”

Second Quarter 2014 Highlights (at or for the three-month periods ended June 30, 2014, compared to June 30, 2013, and March 31, 2014):

·                  Tangible book value per share increased 8.9% to $26.13 at June 30, 2014, compared to $24.00 a year ago.

·                  Lease rent revenues were flat at $24.8 million in 2Q14 compared to the year ago period and increased 5.0% to $51.7 million in the first half of the year from the year ago period.

·                  Maintenance reserve revenues increased 23.5% to $14.6 million in the second quarter and grew 36.0% to $28.6 million in the first half of the year from the year ago period.

·                  Total revenues increased 11.3% to $42.3 million in 2Q14 from $38.0 million in 2Q13 with increases recorded in all revenue line items.

·                  Average utilization in the current quarter was 81% compared to 83% in the second quarter of 2013.

·                  Utilization was 82% at quarter end, compared to 84% at the end of the first quarter and 83% a year ago.

·                  Liquidity under the revolving credit facility was $357 million at quarter end, up from $111 million a year ago, reflecting the upsizing of the revolver during the quarter.

WLFC earns $0.27 EPS in 2Q14

August 6, 2014

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“While new leasing activity continues to be strong, we had an unusually high number of engines come off lease in the latter part of the first quarter, which continued into the first part of the second quarter,” said Donald A. Nunemaker, President.  “As a result, utilization was down slightly at the end of the second quarter and lease rent revenues were flat compared to the year ago quarter.  Leasing spare engines continues to make economic sense for our customers, and we remain confident that the long-term outlook for our business is strong.  In the short-term, however, headwinds created by supply and demand dynamics are contributing to a challenging environment for us.”

Balance Sheet

At June 30, 2014, Willis Lease had 196 commercial aircraft engines, 5 aircraft parts packages and 4 aircraft and other engine-related equipment in its lease portfolio, with a net book value of $1.017 billion, compared to 194 commercial aircraft engines, 3 aircraft parts packages and 7 aircraft and other engine-related equipment in its lease portfolio, with a net book value of $1.015 billion, a year ago.  The Company’s funded debt-to-equity is 3.44 to 1 at quarter end, compared to 3.53 to 1 at March 31, 2014, and 3.50 to 1 a year ago.

About Willis Lease Finance

Willis Lease Finance Corporation leases large and regional spare commercial aircraft engines, APU’s and aircraft to airlines, aircraft engine manufacturers and maintenance, repair and overhaul providers in 110 countries. These leasing activities are integrated with engine and aircraft trading, engine lease pools supported by cutting edge technology, 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/A and other continuing reports filed with the Securities and Exchange Commission.

WLFC earns $0.27 EPS in 2Q14

August 6, 2014

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Consolidated Statements of Income

(In thousands, except per share data, unaudited)

WLFC earns $0.27 EPS in 2Q14

August 6, 2014

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Consolidated Balance Sheets

(In thousands, except share data, unaudited)

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Note:  Transmitted on GlobeNewswire on August 6, 2014, at 6:00 a.m. PDT.