Willis signs 250-year lease at Teesside Airport

Phil Forster, managing director of Teesside International Airport, said: “Willis Aviation has been a fantastic supporter of Teesside Airport for many years, and this long-lease agreement is a huge step in their commitment to our airport and our region.

“Their investment in a new twin-bay hangar and the new maintenance contracts they’ve secured in the past year show just how serious their team is when it comes to growing here and creating more well-paid, skilled jobs on Teesside.

“Teesside is fast becoming the go-to place for aircraft maintenance, repair and overhaul, and we’re taking big strides forward in becoming an ideal one-stop shop for major operators.

“This is a hugely significant moment for Teesside Airport and a major milestone in securing the airport’s long-term future.”

Ben Houchen, Tees Valley mayor, said: “When we saved our airport from closure, we did it because it was the right thing to do.

“We also believed it had the huge potential to bring so many more jobs for local people and more investment.

“Securing more holiday flights will always be vital, and I’ll never lose sight of that, but the airport has always needed to be about much more than that.

“The airport is now a hive of activity where we are using the land to grow a brilliant business park and making it a place where major international firms can invest and thrive.

“Willis’s decision to make this long-term investment shows both their confidence in Teesside and in our vision for the airport’s future.

“It’s a hugely important step that will help put Teesside Airport on a more secure financial footing for years to come and bring hundreds more well-paid jobs for people to build their careers here.”

Austin C. Willis, chief executive officer of Willis Lease Finance Corporation, said: “This agreement represents a continued commitment to our long-term vision for the region.

“We are grateful for the opportunity to expand our presence at Teesside and better support global and European maintenance capacity.”