Vilya means Air
Narya name of the Red Ring, the Ring of Fire; apparently properly an adjective, so that the meaning is something like "Fiery (One)" (SA:nár)
Nenya name of the Blue Ring, apparently properly an adjective meaning something like "Watery [One]" (SA:nen)
The Nenya and Narya are from
www.ardalambion.com , which is a credible source, I don't know why they called Nenya the blue ring when it was the ring of adament with a white stone but I know it was the ring of water
Vilya= ring of air
Narya= ring of fire
Nenya= ring of water
Vilya positively means air though.