diff --git "a/8e6f6025-d096-432b-b1d3-7fbd42007e2c.json" "b/8e6f6025-d096-432b-b1d3-7fbd42007e2c.json" new file mode 100644--- /dev/null +++ "b/8e6f6025-d096-432b-b1d3-7fbd42007e2c.json" @@ -0,0 +1,40 @@ +{ + "interaction_id": "8e6f6025-d096-432b-b1d3-7fbd42007e2c", + "search_results": [ + { + "page_name": "FTAI Aviation Ltd. Reports Third Quarter 2023 Results, Declares ...", + "page_url": "https://ir.ftandi.com/news-releases/news-release-details/ftai-aviation-ltd-reports-third-quarter-2023-results-declares", + "page_snippet": "FTAI Aviation Ltd. (NASDAQ: FTAI) (the \u201cCompany\u201d or \u201cFTAI\u201d) today reported financial results for the third quarter 2023. The Company\u2019s consolidated comparative financial statements and key performance measures are attached as an exhibit to this press release. ... _______________________________ (1) For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release. Third Quarter 2023 Dividends...The Investor Relations website contains information about FTAI Aviation's business for stockholders, potential investors, and financial analysts. October 25, 2023, the Company\u2019s Board of Directors (the \u201cBoard\u201d) declared a cash dividend on FTAI\u2019s ordinary shares of ... November 14, 2023. ... October 25, 2023, the Board declared cash dividends on FTAI\u2019s Fixed-to-Floating Rate Series A Cumulative Perpetual Redeemable Preferred Shares (\u201cSeries A Preferred Shares\u201d), Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares (\u201cSeries B Preferred Shares\u201d), Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (\u201cSeries C Preferred Shares\u201d) and Fixed-Rate Reset Series D Cumulative Perpetual Redeemable Preferred Shares (\u201cSeries D Preferred Shares\u201d) of October 25, 2023, the Company\u2019s Board of Directors (the \u201cBoard\u201d) declared a cash dividend on FTAI\u2019s ordinary shares of ... November 14, 2023. Oct. 25, 2023 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI) (the \u201cCompany\u201d or \u201cFTAI\u201d) today reported financial results for the third quarter 2023. The Company\u2019s consolidated comparative financial statements and key performance measures are attached as an exhibit to this press release.", + "page_result": "\n\n \n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n FTAI Aviation Ltd. Reports Third Quarter 2023 Results, Declares Dividend of $0.30 per Ordinary Share | FTAI Aviation\n \n\n\n\n\n\n\n \n\n\n \n \n \n
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FTAI Aviation Ltd. Reports Third Quarter 2023 Results, Declares Dividend of $0.30 per Ordinary Share
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Oct 25, 2023
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NEW YORK, Oct. 25, 2023 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI) (the \u201cCompany\u201d or \u201cFTAI\u201d) today reported financial results for the third quarter 2023. The Company\u2019s consolidated comparative financial statements and key performance measures are attached as an exhibit to this press release.

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Financial Overview

\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
(in thousands, except per share data)
Selected Financial ResultsQ3\u201923
Net Income Attributable to Shareholders$32,973
Basic Earnings per Ordinary Share from Continuing Operations$0.33
Diluted Earnings per Ordinary Share from Continuing Operations$0.33
Adjusted EBITDA(1)$154,218

_______________________________
(1) For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release.

Third Quarter 2023 Dividends

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On October 25, 2023, the Company\u2019s Board of Directors (the \u201cBoard\u201d) declared a cash dividend on FTAI\u2019s ordinary shares of $0.30 per share for the quarter ended September 30, 2023, payable on November 28, 2023 to the holders of record on November 14, 2023.

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Additionally, on October 25, 2023, the Board declared cash dividends on FTAI\u2019s Fixed-to-Floating Rate Series A Cumulative Perpetual Redeemable Preferred Shares (\u201cSeries A Preferred Shares\u201d), Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares (\u201cSeries B Preferred Shares\u201d), Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (\u201cSeries C Preferred Shares\u201d) and Fixed-Rate Reset Series D Cumulative Perpetual Redeemable Preferred Shares (\u201cSeries D Preferred Shares\u201d) of $0.51563, $0.50000, $0.51563 and $0.59375 per share, respectively, for the quarter ended September 30, 2023, payable on December 15, 2023 to the holders of record on December 1, 2023.

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Business Highlights

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  • $107.1 million Aerospace Products revenue in Q3 2023 generating $40.6 million of Adjusted EBITDA(1) at a 38% margin.
    • \n
  • 41 modules sold in Q3\u201923 to 11 unique customers including 2 new customers and 9 repeat customers.
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  • Generated $492 million year to date positive free cashflow available for asset acquisition & investment activity.
    • \n
  • Closed on 23 Engines & 10 Aircraft at attractive prices to help generate future growth in Aviation Leasing Adjusted EBITDA(1).

    (1)\u00a0 For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release.
    • \n

Additional Information

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For additional information that management believes to be useful for investors, please refer to the presentation posted on the Investor Center section of the Company\u2019s website, https://www.ftaiaviation.com, and the Company\u2019s Quarterly Report on Form 10-Q, when available on the Company\u2019s website. Nothing on the Company\u2019s website is included or incorporated by reference herein.

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Conference Call

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In addition, management will host a conference call on Thursday, October 26, 2023 at 8:00 A.M. Eastern Time. The conference call may be accessed by registering via the following link https://register.vevent.com/register/BIc75f7efaa03d41108edf9a7cf4d4ec2f. Once registered, participants will receive a dial-in and unique pin to access the call.

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A simultaneous webcast of the conference call will be available to the public on a listen-only basis at https://www.ftaiaviation.com/. Please allow extra time prior to the call to visit the site and download the necessary software required to listen to the internet broadcast.

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A replay of the conference call will be available after 11:30 A.M. on Thursday, October 26, 2023 through 11:30 A.M. on Thursday, November 2, 2023 on https://ir.ftaiaviation.com/news-events/presentations.

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The information contained on, or accessible through, any websites included in this press release is not incorporated by reference into, and should not be considered a part of, this press release.

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About FTAI Aviation Ltd.

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FTAI owns and maintains commercial jet engines with a focus on CFM56 engines. FTAI\u2019s propriety portfolio of products, including The Module Factory and a joint venture to manufacture engine PMA, enables it to provide cost savings and flexibility to our airline, lessor, and maintenance, repair, and operations customer base. Additionally, FTAI owns and leases jet aircraft which often facilitates the acquisition of engines at attractive prices. FTAI invests in aviation assets and aerospace products that generate strong and stable cash flows with the potential for earnings growth and asset appreciation.

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Cautionary Note Regarding Forward-Looking Statements

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Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond the Company\u2019s control. The Company can give no assurance that its expectations will be attained and such differences may be material. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled \u201cRisk Factors\u201d and \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d in the Company\u2019s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available on the Company\u2019s website (www.ftaiaviation.com). In addition, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. This release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.

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For further information, please contact:

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Alan Andreini
Investor Relations
FTAI Aviation Ltd.
(646) 734-9414
aandreini@fortress.com

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\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
Exhibit - Financial Statements
FTAI AVIATION LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(Dollar amounts in thousands, except share and per share data)

\u00a0Three Months Ended
September 30,		\u00a0Nine Months Ended
September 30,
\u00a0\u00a02023\u00a0\u00a02022\u00a0\u00a0\u00a02023\u00a0\u00a0\u00a02022\u00a0
Revenues\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Lease income$45,622\u00a0$50,198\u00a0\u00a0$161,141\u00a0\u00a0$129,163\u00a0
Maintenance revenue\u00a063,925\u00a0\u00a035,507\u00a0\u00a0\u00a0141,131\u00a0\u00a0\u00a0112,171\u00a0
Asset sales revenue\u00a072,990\u00a0\u00a085,488\u00a0\u00a0\u00a0283,167\u00a0\u00a0\u00a085,488\u00a0
Aerospace products revenue\u00a0107,085\u00a0\u00a053,401\u00a0\u00a0\u00a0260,273\u00a0\u00a0\u00a094,211\u00a0
Other revenue\u00a01,474\u00a0\u00a05,771\u00a0\u00a0\u00a012,447\u00a0\u00a0\u00a013,087\u00a0
Total revenues\u00a0291,096\u00a0\u00a0230,365\u00a0\u00a0\u00a0858,159\u00a0\u00a0\u00a0434,120\u00a0
Expenses\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Cost of sales\u00a0116,707\u00a0\u00a095,948\u00a0\u00a0\u00a0366,909\u00a0\u00a0\u00a0120,139\u00a0
Operating expenses\u00a033,887\u00a0\u00a027,393\u00a0\u00a0\u00a081,218\u00a0\u00a0\u00a0108,197\u00a0
General and administrative\u00a03,015\u00a0\u00a03,354\u00a0\u00a0\u00a010,270\u00a0\u00a0\u00a011,821\u00a0
Acquisition and transaction expenses\u00a04,261\u00a0\u00a02,848\u00a0\u00a0\u00a010,195\u00a0\u00a0\u00a08,340\u00a0
Management fees and incentive allocation to affiliate\u00a04,577\u00a0\u00a04\u00a0\u00a0\u00a013,137\u00a0\u00a0\u00a04\u00a0
Depreciation and amortization\u00a043,959\u00a0\u00a034,853\u00a0\u00a0\u00a0123,399\u00a0\u00a0\u00a0115,461\u00a0
Asset impairment\u00a0\u2014\u00a0\u00a04,495\u00a0\u00a0\u00a01,220\u00a0\u00a0\u00a0128,171\u00a0
Interest expense\u00a040,185\u00a0\u00a040,171\u00a0\u00a0\u00a0117,976\u00a0\u00a0\u00a0132,197\u00a0
Total expenses\u00a0246,591\u00a0\u00a0209,066\u00a0\u00a0\u00a0724,324\u00a0\u00a0\u00a0624,330\u00a0
Other income (expense)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Equity in earnings (losses) of unconsolidated entities\u00a046\u00a0\u00a0(358)\u00a0\u00a0(1,669)\u00a0\u00a0(125)
Gain on sale of assets, net\u00a0\u2014\u00a0\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u00a079,933\u00a0
Loss on extinguishment of debt\u00a0\u2014\u00a0\u00a0(19,861)\u00a0\u00a0\u2014\u00a0\u00a0\u00a0(19,861)
Other income (expense)\u00a0461\u00a0\u00a0(1,038)\u00a0\u00a0877\u00a0\u00a0\u00a0208\u00a0
Total other income (expense)\u00a0507\u00a0\u00a0(21,257)\u00a0\u00a0(792)\u00a0\u00a060,155\u00a0
Income (loss) from continuing operations before income taxes\u00a045,012\u00a0\u00a042\u00a0\u00a0\u00a0133,043\u00a0\u00a0\u00a0(130,055)
Provision for income taxes\u00a03,705\u00a0\u00a04,189\u00a0\u00a0\u00a07,586\u00a0\u00a0\u00a07,357\u00a0
Net income (loss) from continuing operations\u00a041,307\u00a0\u00a0(4,147)\u00a0\u00a0125,457\u00a0\u00a0\u00a0(137,412)
Net loss from discontinued operations, net of income taxes\u00a0\u2014\u00a0\u00a0(14,782)\u00a0\u00a0\u2014\u00a0\u00a0\u00a0(101,416)
Net income (loss)\u00a041,307\u00a0\u00a0(18,929)\u00a0\u00a0125,457\u00a0\u00a0\u00a0(238,828)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Continuing operations\u00a0\u2014\u00a0\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0
Discontinued operations\u00a0\u2014\u00a0\u00a0(2,871)\u00a0\u00a0\u2014\u00a0\u00a0\u00a0(18,817)
Less: Dividends on preferred shares\u00a08,334\u00a0\u00a06,791\u00a0\u00a0\u00a023,460\u00a0\u00a0\u00a020,373\u00a0
Net income (loss) attributable to shareholders$32,973\u00a0$(22,849)\u00a0$101,997\u00a0\u00a0$(240,384)
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0


\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\u00a0Three Months Ended
September 30,		\u00a0\u00a0Nine Months Ended
September 30,
\u00a02023\u00a0\u00a02022\u00a0\u00a02023\u00a02022\u00a0
Earnings (loss) per share:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Basic\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Continuing operations$0.33\u00a0$(0.11)\u00a0$1.02\u00a0$(1.59)
Discontinued operations$\u2014\u00a0$(0.12)\u00a0$\u2014\u00a0$(0.83)
Diluted\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Continuing operations$0.33\u00a0$(0.11)\u00a0$1.02\u00a0$(1.59)
Discontinued operations$\u2014\u00a0$(0.12)\u00a0$\u2014\u00a0$(0.83)
Weighted average shares outstanding:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Basic\u00a099,927,594\u00a0\u00a099,378,771\u00a0\u00a0\u00a099,796,736\u00a0\u00a099,372,016\u00a0
Diluted\u00a0100,482,309\u00a0\u00a099,378,771\u00a0\u00a0\u00a0100,269,203\u00a0\u00a099,372,016\u00a0


\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\u00a0\u00a0FTAI AVIATION LTD.
CONSOLIDATED BALANCE SHEETS (Unaudited)
(Dollar amounts in thousands, except share and per share data)
\u00a0\u00a0
\u00a0(Unaudited)\u00a0\u00a0\u00a0
\u00a0September 30, 2023\u00a0December 31, 2022\u00a0
Assets\u00a0\u00a0\u00a0\u00a0
Cash and cash equivalents$52,879\u00a0\u00a0$33,565\u00a0\u00a0
Restricted cash\u00a0\u2014\u00a0\u00a0\u00a019,500\u00a0\u00a0
Accounts receivable, net\u00a0107,825\u00a0\u00a0\u00a099,443\u00a0\u00a0
Leasing equipment, net\u00a01,924,198\u00a0\u00a0\u00a01,913,553\u00a0\u00a0
Property, plant, and equipment, net\u00a013,454\u00a0\u00a0\u00a010,014\u00a0\u00a0
Investments\u00a039,868\u00a0\u00a0\u00a022,037\u00a0\u00a0
Intangible assets, net\u00a041,471\u00a0\u00a0\u00a041,955\u00a0\u00a0
Inventory, net\u00a0274,832\u00a0\u00a0\u00a0163,676\u00a0\u00a0
Other assets\u00a0179,259\u00a0\u00a0\u00a0125,834\u00a0\u00a0
Total assets$2,633,786\u00a0\u00a0$2,429,577\u00a0\u00a0
\u00a0\u00a0\u00a0\u00a0\u00a0
Liabilities\u00a0\u00a0\u00a0\u00a0
Accounts payable and accrued liabilities$108,579\u00a0\u00a0$86,452\u00a0\u00a0
Debt, net\u00a02,279,330\u00a0\u00a0\u00a02,175,727\u00a0\u00a0
Maintenance deposits\u00a061,497\u00a0\u00a0\u00a078,686\u00a0\u00a0
Security deposits\u00a039,901\u00a0\u00a0\u00a032,842\u00a0\u00a0
Other liabilities\u00a049,417\u00a0\u00a0\u00a036,468\u00a0\u00a0
Total liabilities$2,538,724\u00a0\u00a0$2,410,175\u00a0\u00a0
\u00a0\u00a0\u00a0\u00a0\u00a0
Commitments and contingencies\u00a0\u00a0\u00a0\u00a0
\u00a0\u00a0\u00a0\u00a0\u00a0
Equity\u00a0\u00a0\u00a0\u00a0
Common shares ($0.01 par value per share; 2,000,000,000 shares authorized; 100,238,075 and 99,716,621 shares issued and outstanding as of September\u00a030, 2023 and December\u00a031, 2022, respectively)$1,002\u00a0\u00a0$997\u00a0\u00a0
Preferred shares ($0.01 par value per share; 200,000,000 shares authorized; 15,920,000 and 13,320,000 shares issued and outstanding as of September\u00a030, 2023 and December\u00a031, 2022, respectively)\u00a0159\u00a0\u00a0\u00a0133\u00a0\u00a0
Additional paid in capital\u00a0293,512\u00a0\u00a0\u00a0343,350\u00a0\u00a0
Accumulated deficit\u00a0(200,145)\u00a0\u00a0(325,602)\u00a0
Shareholders' equity\u00a094,528\u00a0\u00a0\u00a018,878\u00a0\u00a0
Non-controlling interest in equity of consolidated subsidiaries\u00a0534\u00a0\u00a0\u00a0524\u00a0\u00a0
Total equity\u00a095,062\u00a0\u00a0\u00a019,402\u00a0\u00a0
Total liabilities and equity$2,633,786\u00a0\u00a0$2,429,577\u00a0\u00a0


\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
FTAI AVIATION LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(Dollar amounts in thousands, unless otherwise noted)
\u00a0Nine Months Ended September 30,
\u00a0\u00a02023\u00a0\u00a0\u00a02022\u00a0
Cash flows from operating activities:\u00a0\u00a0\u00a0
Net income (loss)$125,457\u00a0\u00a0$(238,828)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:\u00a0\u00a0\u00a0
Equity in losses of unconsolidated entities\u00a01,669\u00a0\u00a0\u00a046,727\u00a0
Gain on sale of assets, net\u00a0(110,511)\u00a0\u00a0(106,427)
Security deposits and maintenance claims included in earnings\u00a0(34,458)\u00a0\u00a0(31,558)
Loss on extinguishment of debt\u00a0\u2014\u00a0\u00a0\u00a019,861\u00a0
Equity-based compensation\u00a01,128\u00a0\u00a0\u00a02,623\u00a0
Depreciation and amortization\u00a0123,399\u00a0\u00a0\u00a0155,780\u00a0
Asset impairment\u00a01,220\u00a0\u00a0\u00a0128,171\u00a0
Change in deferred income taxes\u00a05,974\u00a0\u00a0\u00a014,923\u00a0
Change in fair value of non-hedge derivative\u00a0\u2014\u00a0\u00a0\u00a0(1,567)
Change in fair value of guarantees\u00a0(1,677)\u00a0\u00a0\u2014\u00a0
Amortization of lease intangibles and incentives\u00a033,685\u00a0\u00a0\u00a030,315\u00a0
Amortization of deferred financing costs\u00a06,429\u00a0\u00a0\u00a017,142\u00a0
Provision for credit losses\u00a06,583\u00a0\u00a0\u00a047,226\u00a0
Other\u00a0(995)\u00a0\u00a0(693)
Change in:\u00a0\u00a0\u00a0
Accounts receivable\u00a0(34,358)\u00a0\u00a0(61,892)
Inventory\u00a0(4,845)\u00a0\u00a0(13,370)
Other assets\u00a0(3,727)\u00a0\u00a0(23,576)
Accounts payable and accrued liabilities\u00a0321\u00a0\u00a0\u00a04,329\u00a0
Management fees payable to affiliate\u00a0824\u00a0\u00a0\u00a0(2,530)
Other liabilities\u00a0648\u00a0\u00a0\u00a0(7,955)
Net cash provided by (used in) operating activities\u00a0116,766\u00a0\u00a0\u00a0(21,299)
\u00a0\u00a0\u00a0\u00a0
Cash flows from investing activities:\u00a0\u00a0\u00a0
Investment in unconsolidated entities\u00a0(19,500)\u00a0\u00a0(7,344)
Principal collections on notes receivable\u00a02,438\u00a0\u00a0\u00a0\u2014\u00a0
Principal collections on finance leases\u00a03,624\u00a0\u00a0\u00a02,165\u00a0
Acquisition of business, net of cash acquired\u00a0\u2014\u00a0\u00a0\u00a0(3,819)
Acquisition of leasing equipment\u00a0(506,923)\u00a0\u00a0(360,642)
Acquisition of property, plant and equipment\u00a0(3,906)\u00a0\u00a0(138,750)
Acquisition of lease intangibles\u00a0(10,474)\u00a0\u00a0(6,542)
Investment in promissory notes\u00a0(11,500)\u00a0\u00a0\u2014\u00a0
Purchase deposits for acquisitions\u00a0(10,533)\u00a0\u00a0(28,621)
Proceeds from sale of leasing equipment\u00a0366,065\u00a0\u00a0\u00a0262,096\u00a0
Proceeds from sale of property, plant and equipment\u00a0\u2014\u00a0\u00a0\u00a05,289\u00a0
(Refunds) proceeds for deposit on sale of aircraft and engine\u00a0(683)\u00a0\u00a07,801\u00a0
Return of purchase deposits\u00a0300\u00a0\u00a0\u00a0\u2014\u00a0
Net cash used in investing activities$(191,092)\u00a0$(268,367)
\u00a0\u00a0\u00a0\u00a0
Cash flows from financing activities:\u00a0\u00a0\u00a0
Proceeds from debt$430,000\u00a0\u00a0$503,980\u00a0
Repayment of debt\u00a0(330,000)\u00a0\u00a0(984,529)
Payment of deferred financing costs\u00a0(1,805)\u00a0\u00a0(18,151)
Receipt of security deposits\u00a07,355\u00a0\u00a0\u00a02,636\u00a0
Return of security deposits\u00a0(2,385)\u00a0\u00a0(941)
Receipt of maintenance deposits\u00a022,747\u00a0\u00a0\u00a037,586\u00a0
Release of maintenance deposits\u00a0(275)\u00a0\u00a0(878)
Capital contributions from non-controlling interests\u00a010\u00a0\u00a0\u00a01,187\u00a0
Settlement of equity-based compensation\u00a0\u2014\u00a0\u00a0\u00a0(148)
Proceeds from issuance of preferred shares, net of underwriter's discount and issuance costs\u00a061,729\u00a0\u00a0\u00a0\u2014\u00a0
Dividend from spin-off of FTAI Infrastructure, net of cash transferred\u00a0\u2014\u00a0\u00a0\u00a0500,562\u00a0
Cash dividends - ordinary shares\u00a0(89,776)\u00a0\u00a0(98,584)
Cash dividends - preferred shares\u00a0(23,460)\u00a0\u00a0(20,373)
Net cash provided by (used in) financing activities$74,140\u00a0\u00a0$(77,653)
\u00a0\u00a0\u00a0\u00a0
Net decrease in cash and cash equivalents and restricted cash\u00a0(186)\u00a0\u00a0(367,319)
Cash and cash equivalents and restricted cash, beginning of period\u00a053,065\u00a0\u00a0\u00a0440,061\u00a0
Cash and cash equivalents and restricted cash, end of period$52,879\u00a0\u00a0$72,742\u00a0


Key Performance Measures

\n

The Chief Operating Decision Maker (\u201cCODM\u201d) utilizes Adjusted EBITDA as our key performance measure.

\n

Adjusted EBITDA provides the CODM with the information necessary to assess operational performance, as well as make resource and allocation decisions. Adjusted EBITDA is defined as net income (loss) attributable to shareholders from continuing operations, adjusted (a) to exclude the impact of provision for income taxes, equity-based compensation expense, acquisition and transaction expenses, losses on the modification or extinguishment of debt and capital lease obligations, changes in fair value of non-hedge derivative instruments, asset impairment charges, incentive allocations, depreciation and amortization expense, dividends on preferred shares, and interest expense, (b) to include the impact of our pro-rata share of Adjusted EBITDA from unconsolidated entities, and (c) to exclude the impact of equity in earnings (losses) of unconsolidated entities and the non-controlling share of Adjusted EBITDA.

\n

The following table sets forth a reconciliation of net income (loss) attributable to shareholders from continuing operations to Adjusted EBITDA for the three and nine months ended September 30, 2023 and 2022:

\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\u00a0Three Months Ended
September 30,		\u00a0Change
\u00a0Nine Months Ended
September 30,		\u00a0Change
(in thousands)\u00a02023\u00a0\u00a0\u00a02022\u00a0\u00a0\u00a0\u00a02023\u00a0\u00a02022\u00a0\u00a0
Net income (loss) attributable to shareholders from continuing operations$32,973\u00a0\u00a0$(10,938)\u00a0$43,911\u00a0\u00a0$101,997\u00a0$(157,785)\u00a0$259,782\u00a0
Add: Provision for income taxes\u00a03,705\u00a0\u00a0\u00a04,189\u00a0\u00a0\u00a0(484)\u00a0\u00a07,586\u00a0\u00a07,357\u00a0\u00a0\u00a0229\u00a0
Add: Equity-based compensation expense\u00a0510\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u00a0510\u00a0\u00a0\u00a01,128\u00a0\u00a0\u2014\u00a0\u00a0\u00a01,128\u00a0
Add: Acquisition and transaction expenses\u00a04,261\u00a0\u00a0\u00a02,848\u00a0\u00a0\u00a01,413\u00a0\u00a0\u00a010,195\u00a0\u00a08,340\u00a0\u00a0\u00a01,855\u00a0
Add: Losses on the modification or extinguishment of debt and capital lease obligations\u00a0\u2014\u00a0\u00a0\u00a019,861\u00a0\u00a0\u00a0(19,861)\u00a0\u00a0\u2014\u00a0\u00a019,861\u00a0\u00a0\u00a0(19,861)
Add: Changes in fair value of non-hedge derivative instruments\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0
Add: Asset impairment charges\u00a0\u2014\u00a0\u00a0\u00a04,495\u00a0\u00a0\u00a0(4,495)\u00a0\u00a01,220\u00a0\u00a0128,171\u00a0\u00a0\u00a0(126,951)
Add: Incentive allocations\u00a04,274\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u00a04,274\u00a0\u00a0\u00a012,540\u00a0\u00a0\u2014\u00a0\u00a0\u00a012,540\u00a0
Add: Depreciation and amortization expense(1)\u00a059,380\u00a0\u00a0\u00a041,329\u00a0\u00a0\u00a018,051\u00a0\u00a0\u00a0157,084\u00a0\u00a0145,754\u00a0\u00a0\u00a011,330\u00a0
Add: Interest expense and dividends on preferred shares\u00a048,519\u00a0\u00a0\u00a046,962\u00a0\u00a0\u00a01,557\u00a0\u00a0\u00a0141,436\u00a0\u00a0152,570\u00a0\u00a0\u00a0(11,134)
Add: Pro-rata share of Adjusted EBITDA from unconsolidated entities(2)\u00a0642\u00a0\u00a0\u00a0(241)\u00a0\u00a0883\u00a0\u00a0\u00a096\u00a0\u00a0165\u00a0\u00a0\u00a0(69)
Less: Equity in (earnings) losses of unconsolidated entities\u00a0(46)\u00a0\u00a0358\u00a0\u00a0\u00a0(404)\u00a0\u00a01,669\u00a0\u00a0125\u00a0\u00a0\u00a01,544\u00a0
Less: Non-controlling share of Adjusted EBITDA\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0
Adjusted EBITDA (non-GAAP)$154,218\u00a0\u00a0$108,863\u00a0\u00a0$45,355\u00a0\u00a0$434,951\u00a0$304,558\u00a0\u00a0$130,393\u00a0

___________________________________________________

\n

(1) Includes the following items for the three months ended September\u00a030, 2023 and 2022: (i) depreciation and amortization expense of $43,959 and $34,853, (ii) lease intangible amortization of $3,726 and $3,291 and (iii) amortization for lease incentives of $11,695 and $3,185, respectively. Includes the following items for the nine months ended September\u00a030, 2023 and 2022: (i) depreciation and amortization expense of $123,399 and $115,461, (ii) lease intangible amortization of $11,325 and $10,259 and (iii) amortization for lease incentives of $22,360 and $20,034, respectively.

\n

(2) Includes the following items for the three months ended September 30, 2023 and 2022: (i)\u00a0net income (loss) of $46 and $(358), (ii)\u00a0depreciation and amortization expense of $367 and $117 and (iii) acquisition and transaction expense of $229 and $0, respectively. Includes the following items for the nine months ended September 30, 2023 and 2022: (i)\u00a0net loss of $1,669 and $125, (ii)\u00a0depreciation and amortization expense of $1,202 and $290 and (iii) acquisition and transaction expense of $563 and $0, respectively.


\"Primary

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\nSource: FTAI Aviation Ltd.

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\n\n \n \n \n\n\n\n\n \n \n\n", + "page_last_modified": " Wed, 28 Feb 2024 15:24:37 GMT" + }, + { + "page_name": "FTAI Aviation Ltd. Reports Third Quarter 2023 Results, Declares ...", + "page_url": "https://ir.ftandi.com/news-releases/news-release-details/ftai-aviation-ltd-reports-third-quarter-2023-results-declares", + "page_snippet": "FTAI Aviation Ltd. (NASDAQ: FTAI) (the \u201cCompany\u201d or \u201cFTAI\u201d) today reported financial results for the third quarter 2023. The Company\u2019s consolidated comparative financial statements and key performance measures are attached as an exhibit to this press release. ... _______________________________ (1) For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release. Third Quarter 2023 Dividends...The Investor Relations website contains information about FTAI Aviation's business for stockholders, potential investors, and financial analysts. October 25, 2023, the Company\u2019s Board of Directors (the \u201cBoard\u201d) declared a cash dividend on FTAI\u2019s ordinary shares of ... November 14, 2023. ... October 25, 2023, the Board declared cash dividends on FTAI\u2019s Fixed-to-Floating Rate Series A Cumulative Perpetual Redeemable Preferred Shares (\u201cSeries A Preferred Shares\u201d), Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares (\u201cSeries B Preferred Shares\u201d), Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (\u201cSeries C Preferred Shares\u201d) and Fixed-Rate Reset Series D Cumulative Perpetual Redeemable Preferred Shares (\u201cSeries D Preferred Shares\u201d) of October 25, 2023, the Company\u2019s Board of Directors (the \u201cBoard\u201d) declared a cash dividend on FTAI\u2019s ordinary shares of ... November 14, 2023. Oct. 25, 2023 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI) (the \u201cCompany\u201d or \u201cFTAI\u201d) today reported financial results for the third quarter 2023. The Company\u2019s consolidated comparative financial statements and key performance measures are attached as an exhibit to this press release.", + "page_result": "\n\n \n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n FTAI Aviation Ltd. Reports Third Quarter 2023 Results, Declares Dividend of $0.30 per Ordinary Share | FTAI Aviation\n \n\n\n\n\n\n\n \n\n\n \n \n \n
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\n\n Press Release Details\n

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FTAI Aviation Ltd. Reports Third Quarter 2023 Results, Declares Dividend of $0.30 per Ordinary Share
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Oct 25, 2023
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\n PDF Version\n
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NEW YORK, Oct. 25, 2023 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI) (the \u201cCompany\u201d or \u201cFTAI\u201d) today reported financial results for the third quarter 2023. The Company\u2019s consolidated comparative financial statements and key performance measures are attached as an exhibit to this press release.

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Financial Overview

\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
(in thousands, except per share data)
Selected Financial ResultsQ3\u201923
Net Income Attributable to Shareholders$32,973
Basic Earnings per Ordinary Share from Continuing Operations$0.33
Diluted Earnings per Ordinary Share from Continuing Operations$0.33
Adjusted EBITDA(1)$154,218

_______________________________
(1) For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release.

Third Quarter 2023 Dividends

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On October 25, 2023, the Company\u2019s Board of Directors (the \u201cBoard\u201d) declared a cash dividend on FTAI\u2019s ordinary shares of $0.30 per share for the quarter ended September 30, 2023, payable on November 28, 2023 to the holders of record on November 14, 2023.

\n

Additionally, on October 25, 2023, the Board declared cash dividends on FTAI\u2019s Fixed-to-Floating Rate Series A Cumulative Perpetual Redeemable Preferred Shares (\u201cSeries A Preferred Shares\u201d), Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares (\u201cSeries B Preferred Shares\u201d), Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (\u201cSeries C Preferred Shares\u201d) and Fixed-Rate Reset Series D Cumulative Perpetual Redeemable Preferred Shares (\u201cSeries D Preferred Shares\u201d) of $0.51563, $0.50000, $0.51563 and $0.59375 per share, respectively, for the quarter ended September 30, 2023, payable on December 15, 2023 to the holders of record on December 1, 2023.

\n

Business Highlights

\n
  • $107.1 million Aerospace Products revenue in Q3 2023 generating $40.6 million of Adjusted EBITDA(1) at a 38% margin.
    • \n
  • 41 modules sold in Q3\u201923 to 11 unique customers including 2 new customers and 9 repeat customers.
    • \n
  • Generated $492 million year to date positive free cashflow available for asset acquisition & investment activity.
    • \n
  • Closed on 23 Engines & 10 Aircraft at attractive prices to help generate future growth in Aviation Leasing Adjusted EBITDA(1).

    (1)\u00a0 For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release.
    • \n

Additional Information

\n

For additional information that management believes to be useful for investors, please refer to the presentation posted on the Investor Center section of the Company\u2019s website, https://www.ftaiaviation.com, and the Company\u2019s Quarterly Report on Form 10-Q, when available on the Company\u2019s website. Nothing on the Company\u2019s website is included or incorporated by reference herein.

\n

Conference Call

\n

In addition, management will host a conference call on Thursday, October 26, 2023 at 8:00 A.M. Eastern Time. The conference call may be accessed by registering via the following link https://register.vevent.com/register/BIc75f7efaa03d41108edf9a7cf4d4ec2f. Once registered, participants will receive a dial-in and unique pin to access the call.

\n

A simultaneous webcast of the conference call will be available to the public on a listen-only basis at https://www.ftaiaviation.com/. Please allow extra time prior to the call to visit the site and download the necessary software required to listen to the internet broadcast.

\n

A replay of the conference call will be available after 11:30 A.M. on Thursday, October 26, 2023 through 11:30 A.M. on Thursday, November 2, 2023 on https://ir.ftaiaviation.com/news-events/presentations.

\n

The information contained on, or accessible through, any websites included in this press release is not incorporated by reference into, and should not be considered a part of, this press release.

\n

About FTAI Aviation Ltd.

\n

FTAI owns and maintains commercial jet engines with a focus on CFM56 engines. FTAI\u2019s propriety portfolio of products, including The Module Factory and a joint venture to manufacture engine PMA, enables it to provide cost savings and flexibility to our airline, lessor, and maintenance, repair, and operations customer base. Additionally, FTAI owns and leases jet aircraft which often facilitates the acquisition of engines at attractive prices. FTAI invests in aviation assets and aerospace products that generate strong and stable cash flows with the potential for earnings growth and asset appreciation.

\n

Cautionary Note Regarding Forward-Looking Statements

\n

Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond the Company\u2019s control. The Company can give no assurance that its expectations will be attained and such differences may be material. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled \u201cRisk Factors\u201d and \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d in the Company\u2019s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available on the Company\u2019s website (www.ftaiaviation.com). In addition, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. This release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.

\n

For further information, please contact:

\n

Alan Andreini
Investor Relations
FTAI Aviation Ltd.
(646) 734-9414
aandreini@fortress.com

\n


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Exhibit - Financial Statements
FTAI AVIATION LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(Dollar amounts in thousands, except share and per share data)

\u00a0Three Months Ended
September 30,		\u00a0Nine Months Ended
September 30,
\u00a0\u00a02023\u00a0\u00a02022\u00a0\u00a0\u00a02023\u00a0\u00a0\u00a02022\u00a0
Revenues\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Lease income$45,622\u00a0$50,198\u00a0\u00a0$161,141\u00a0\u00a0$129,163\u00a0
Maintenance revenue\u00a063,925\u00a0\u00a035,507\u00a0\u00a0\u00a0141,131\u00a0\u00a0\u00a0112,171\u00a0
Asset sales revenue\u00a072,990\u00a0\u00a085,488\u00a0\u00a0\u00a0283,167\u00a0\u00a0\u00a085,488\u00a0
Aerospace products revenue\u00a0107,085\u00a0\u00a053,401\u00a0\u00a0\u00a0260,273\u00a0\u00a0\u00a094,211\u00a0
Other revenue\u00a01,474\u00a0\u00a05,771\u00a0\u00a0\u00a012,447\u00a0\u00a0\u00a013,087\u00a0
Total revenues\u00a0291,096\u00a0\u00a0230,365\u00a0\u00a0\u00a0858,159\u00a0\u00a0\u00a0434,120\u00a0
Expenses\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Cost of sales\u00a0116,707\u00a0\u00a095,948\u00a0\u00a0\u00a0366,909\u00a0\u00a0\u00a0120,139\u00a0
Operating expenses\u00a033,887\u00a0\u00a027,393\u00a0\u00a0\u00a081,218\u00a0\u00a0\u00a0108,197\u00a0
General and administrative\u00a03,015\u00a0\u00a03,354\u00a0\u00a0\u00a010,270\u00a0\u00a0\u00a011,821\u00a0
Acquisition and transaction expenses\u00a04,261\u00a0\u00a02,848\u00a0\u00a0\u00a010,195\u00a0\u00a0\u00a08,340\u00a0
Management fees and incentive allocation to affiliate\u00a04,577\u00a0\u00a04\u00a0\u00a0\u00a013,137\u00a0\u00a0\u00a04\u00a0
Depreciation and amortization\u00a043,959\u00a0\u00a034,853\u00a0\u00a0\u00a0123,399\u00a0\u00a0\u00a0115,461\u00a0
Asset impairment\u00a0\u2014\u00a0\u00a04,495\u00a0\u00a0\u00a01,220\u00a0\u00a0\u00a0128,171\u00a0
Interest expense\u00a040,185\u00a0\u00a040,171\u00a0\u00a0\u00a0117,976\u00a0\u00a0\u00a0132,197\u00a0
Total expenses\u00a0246,591\u00a0\u00a0209,066\u00a0\u00a0\u00a0724,324\u00a0\u00a0\u00a0624,330\u00a0
Other income (expense)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Equity in earnings (losses) of unconsolidated entities\u00a046\u00a0\u00a0(358)\u00a0\u00a0(1,669)\u00a0\u00a0(125)
Gain on sale of assets, net\u00a0\u2014\u00a0\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u00a079,933\u00a0
Loss on extinguishment of debt\u00a0\u2014\u00a0\u00a0(19,861)\u00a0\u00a0\u2014\u00a0\u00a0\u00a0(19,861)
Other income (expense)\u00a0461\u00a0\u00a0(1,038)\u00a0\u00a0877\u00a0\u00a0\u00a0208\u00a0
Total other income (expense)\u00a0507\u00a0\u00a0(21,257)\u00a0\u00a0(792)\u00a0\u00a060,155\u00a0
Income (loss) from continuing operations before income taxes\u00a045,012\u00a0\u00a042\u00a0\u00a0\u00a0133,043\u00a0\u00a0\u00a0(130,055)
Provision for income taxes\u00a03,705\u00a0\u00a04,189\u00a0\u00a0\u00a07,586\u00a0\u00a0\u00a07,357\u00a0
Net income (loss) from continuing operations\u00a041,307\u00a0\u00a0(4,147)\u00a0\u00a0125,457\u00a0\u00a0\u00a0(137,412)
Net loss from discontinued operations, net of income taxes\u00a0\u2014\u00a0\u00a0(14,782)\u00a0\u00a0\u2014\u00a0\u00a0\u00a0(101,416)
Net income (loss)\u00a041,307\u00a0\u00a0(18,929)\u00a0\u00a0125,457\u00a0\u00a0\u00a0(238,828)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Continuing operations\u00a0\u2014\u00a0\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0
Discontinued operations\u00a0\u2014\u00a0\u00a0(2,871)\u00a0\u00a0\u2014\u00a0\u00a0\u00a0(18,817)
Less: Dividends on preferred shares\u00a08,334\u00a0\u00a06,791\u00a0\u00a0\u00a023,460\u00a0\u00a0\u00a020,373\u00a0
Net income (loss) attributable to shareholders$32,973\u00a0$(22,849)\u00a0$101,997\u00a0\u00a0$(240,384)
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0


\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\u00a0Three Months Ended
September 30,		\u00a0\u00a0Nine Months Ended
September 30,
\u00a02023\u00a0\u00a02022\u00a0\u00a02023\u00a02022\u00a0
Earnings (loss) per share:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Basic\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Continuing operations$0.33\u00a0$(0.11)\u00a0$1.02\u00a0$(1.59)
Discontinued operations$\u2014\u00a0$(0.12)\u00a0$\u2014\u00a0$(0.83)
Diluted\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Continuing operations$0.33\u00a0$(0.11)\u00a0$1.02\u00a0$(1.59)
Discontinued operations$\u2014\u00a0$(0.12)\u00a0$\u2014\u00a0$(0.83)
Weighted average shares outstanding:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Basic\u00a099,927,594\u00a0\u00a099,378,771\u00a0\u00a0\u00a099,796,736\u00a0\u00a099,372,016\u00a0
Diluted\u00a0100,482,309\u00a0\u00a099,378,771\u00a0\u00a0\u00a0100,269,203\u00a0\u00a099,372,016\u00a0


\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\u00a0\u00a0FTAI AVIATION LTD.
CONSOLIDATED BALANCE SHEETS (Unaudited)
(Dollar amounts in thousands, except share and per share data)
\u00a0\u00a0
\u00a0(Unaudited)\u00a0\u00a0\u00a0
\u00a0September 30, 2023\u00a0December 31, 2022\u00a0
Assets\u00a0\u00a0\u00a0\u00a0
Cash and cash equivalents$52,879\u00a0\u00a0$33,565\u00a0\u00a0
Restricted cash\u00a0\u2014\u00a0\u00a0\u00a019,500\u00a0\u00a0
Accounts receivable, net\u00a0107,825\u00a0\u00a0\u00a099,443\u00a0\u00a0
Leasing equipment, net\u00a01,924,198\u00a0\u00a0\u00a01,913,553\u00a0\u00a0
Property, plant, and equipment, net\u00a013,454\u00a0\u00a0\u00a010,014\u00a0\u00a0
Investments\u00a039,868\u00a0\u00a0\u00a022,037\u00a0\u00a0
Intangible assets, net\u00a041,471\u00a0\u00a0\u00a041,955\u00a0\u00a0
Inventory, net\u00a0274,832\u00a0\u00a0\u00a0163,676\u00a0\u00a0
Other assets\u00a0179,259\u00a0\u00a0\u00a0125,834\u00a0\u00a0
Total assets$2,633,786\u00a0\u00a0$2,429,577\u00a0\u00a0
\u00a0\u00a0\u00a0\u00a0\u00a0
Liabilities\u00a0\u00a0\u00a0\u00a0
Accounts payable and accrued liabilities$108,579\u00a0\u00a0$86,452\u00a0\u00a0
Debt, net\u00a02,279,330\u00a0\u00a0\u00a02,175,727\u00a0\u00a0
Maintenance deposits\u00a061,497\u00a0\u00a0\u00a078,686\u00a0\u00a0
Security deposits\u00a039,901\u00a0\u00a0\u00a032,842\u00a0\u00a0
Other liabilities\u00a049,417\u00a0\u00a0\u00a036,468\u00a0\u00a0
Total liabilities$2,538,724\u00a0\u00a0$2,410,175\u00a0\u00a0
\u00a0\u00a0\u00a0\u00a0\u00a0
Commitments and contingencies\u00a0\u00a0\u00a0\u00a0
\u00a0\u00a0\u00a0\u00a0\u00a0
Equity\u00a0\u00a0\u00a0\u00a0
Common shares ($0.01 par value per share; 2,000,000,000 shares authorized; 100,238,075 and 99,716,621 shares issued and outstanding as of September\u00a030, 2023 and December\u00a031, 2022, respectively)$1,002\u00a0\u00a0$997\u00a0\u00a0
Preferred shares ($0.01 par value per share; 200,000,000 shares authorized; 15,920,000 and 13,320,000 shares issued and outstanding as of September\u00a030, 2023 and December\u00a031, 2022, respectively)\u00a0159\u00a0\u00a0\u00a0133\u00a0\u00a0
Additional paid in capital\u00a0293,512\u00a0\u00a0\u00a0343,350\u00a0\u00a0
Accumulated deficit\u00a0(200,145)\u00a0\u00a0(325,602)\u00a0
Shareholders' equity\u00a094,528\u00a0\u00a0\u00a018,878\u00a0\u00a0
Non-controlling interest in equity of consolidated subsidiaries\u00a0534\u00a0\u00a0\u00a0524\u00a0\u00a0
Total equity\u00a095,062\u00a0\u00a0\u00a019,402\u00a0\u00a0
Total liabilities and equity$2,633,786\u00a0\u00a0$2,429,577\u00a0\u00a0


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FTAI AVIATION LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(Dollar amounts in thousands, unless otherwise noted)
\u00a0Nine Months Ended September 30,
\u00a0\u00a02023\u00a0\u00a0\u00a02022\u00a0
Cash flows from operating activities:\u00a0\u00a0\u00a0
Net income (loss)$125,457\u00a0\u00a0$(238,828)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:\u00a0\u00a0\u00a0
Equity in losses of unconsolidated entities\u00a01,669\u00a0\u00a0\u00a046,727\u00a0
Gain on sale of assets, net\u00a0(110,511)\u00a0\u00a0(106,427)
Security deposits and maintenance claims included in earnings\u00a0(34,458)\u00a0\u00a0(31,558)
Loss on extinguishment of debt\u00a0\u2014\u00a0\u00a0\u00a019,861\u00a0
Equity-based compensation\u00a01,128\u00a0\u00a0\u00a02,623\u00a0
Depreciation and amortization\u00a0123,399\u00a0\u00a0\u00a0155,780\u00a0
Asset impairment\u00a01,220\u00a0\u00a0\u00a0128,171\u00a0
Change in deferred income taxes\u00a05,974\u00a0\u00a0\u00a014,923\u00a0
Change in fair value of non-hedge derivative\u00a0\u2014\u00a0\u00a0\u00a0(1,567)
Change in fair value of guarantees\u00a0(1,677)\u00a0\u00a0\u2014\u00a0
Amortization of lease intangibles and incentives\u00a033,685\u00a0\u00a0\u00a030,315\u00a0
Amortization of deferred financing costs\u00a06,429\u00a0\u00a0\u00a017,142\u00a0
Provision for credit losses\u00a06,583\u00a0\u00a0\u00a047,226\u00a0
Other\u00a0(995)\u00a0\u00a0(693)
Change in:\u00a0\u00a0\u00a0
Accounts receivable\u00a0(34,358)\u00a0\u00a0(61,892)
Inventory\u00a0(4,845)\u00a0\u00a0(13,370)
Other assets\u00a0(3,727)\u00a0\u00a0(23,576)
Accounts payable and accrued liabilities\u00a0321\u00a0\u00a0\u00a04,329\u00a0
Management fees payable to affiliate\u00a0824\u00a0\u00a0\u00a0(2,530)
Other liabilities\u00a0648\u00a0\u00a0\u00a0(7,955)
Net cash provided by (used in) operating activities\u00a0116,766\u00a0\u00a0\u00a0(21,299)
\u00a0\u00a0\u00a0\u00a0
Cash flows from investing activities:\u00a0\u00a0\u00a0
Investment in unconsolidated entities\u00a0(19,500)\u00a0\u00a0(7,344)
Principal collections on notes receivable\u00a02,438\u00a0\u00a0\u00a0\u2014\u00a0
Principal collections on finance leases\u00a03,624\u00a0\u00a0\u00a02,165\u00a0
Acquisition of business, net of cash acquired\u00a0\u2014\u00a0\u00a0\u00a0(3,819)
Acquisition of leasing equipment\u00a0(506,923)\u00a0\u00a0(360,642)
Acquisition of property, plant and equipment\u00a0(3,906)\u00a0\u00a0(138,750)
Acquisition of lease intangibles\u00a0(10,474)\u00a0\u00a0(6,542)
Investment in promissory notes\u00a0(11,500)\u00a0\u00a0\u2014\u00a0
Purchase deposits for acquisitions\u00a0(10,533)\u00a0\u00a0(28,621)
Proceeds from sale of leasing equipment\u00a0366,065\u00a0\u00a0\u00a0262,096\u00a0
Proceeds from sale of property, plant and equipment\u00a0\u2014\u00a0\u00a0\u00a05,289\u00a0
(Refunds) proceeds for deposit on sale of aircraft and engine\u00a0(683)\u00a0\u00a07,801\u00a0
Return of purchase deposits\u00a0300\u00a0\u00a0\u00a0\u2014\u00a0
Net cash used in investing activities$(191,092)\u00a0$(268,367)
\u00a0\u00a0\u00a0\u00a0
Cash flows from financing activities:\u00a0\u00a0\u00a0
Proceeds from debt$430,000\u00a0\u00a0$503,980\u00a0
Repayment of debt\u00a0(330,000)\u00a0\u00a0(984,529)
Payment of deferred financing costs\u00a0(1,805)\u00a0\u00a0(18,151)
Receipt of security deposits\u00a07,355\u00a0\u00a0\u00a02,636\u00a0
Return of security deposits\u00a0(2,385)\u00a0\u00a0(941)
Receipt of maintenance deposits\u00a022,747\u00a0\u00a0\u00a037,586\u00a0
Release of maintenance deposits\u00a0(275)\u00a0\u00a0(878)
Capital contributions from non-controlling interests\u00a010\u00a0\u00a0\u00a01,187\u00a0
Settlement of equity-based compensation\u00a0\u2014\u00a0\u00a0\u00a0(148)
Proceeds from issuance of preferred shares, net of underwriter's discount and issuance costs\u00a061,729\u00a0\u00a0\u00a0\u2014\u00a0
Dividend from spin-off of FTAI Infrastructure, net of cash transferred\u00a0\u2014\u00a0\u00a0\u00a0500,562\u00a0
Cash dividends - ordinary shares\u00a0(89,776)\u00a0\u00a0(98,584)
Cash dividends - preferred shares\u00a0(23,460)\u00a0\u00a0(20,373)
Net cash provided by (used in) financing activities$74,140\u00a0\u00a0$(77,653)
\u00a0\u00a0\u00a0\u00a0
Net decrease in cash and cash equivalents and restricted cash\u00a0(186)\u00a0\u00a0(367,319)
Cash and cash equivalents and restricted cash, beginning of period\u00a053,065\u00a0\u00a0\u00a0440,061\u00a0
Cash and cash equivalents and restricted cash, end of period$52,879\u00a0\u00a0$72,742\u00a0


Key Performance Measures

\n

The Chief Operating Decision Maker (\u201cCODM\u201d) utilizes Adjusted EBITDA as our key performance measure.

\n

Adjusted EBITDA provides the CODM with the information necessary to assess operational performance, as well as make resource and allocation decisions. Adjusted EBITDA is defined as net income (loss) attributable to shareholders from continuing operations, adjusted (a) to exclude the impact of provision for income taxes, equity-based compensation expense, acquisition and transaction expenses, losses on the modification or extinguishment of debt and capital lease obligations, changes in fair value of non-hedge derivative instruments, asset impairment charges, incentive allocations, depreciation and amortization expense, dividends on preferred shares, and interest expense, (b) to include the impact of our pro-rata share of Adjusted EBITDA from unconsolidated entities, and (c) to exclude the impact of equity in earnings (losses) of unconsolidated entities and the non-controlling share of Adjusted EBITDA.

\n

The following table sets forth a reconciliation of net income (loss) attributable to shareholders from continuing operations to Adjusted EBITDA for the three and nine months ended September 30, 2023 and 2022:

\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\u00a0Three Months Ended
September 30,		\u00a0Change
\u00a0Nine Months Ended
September 30,		\u00a0Change
(in thousands)\u00a02023\u00a0\u00a0\u00a02022\u00a0\u00a0\u00a0\u00a02023\u00a0\u00a02022\u00a0\u00a0
Net income (loss) attributable to shareholders from continuing operations$32,973\u00a0\u00a0$(10,938)\u00a0$43,911\u00a0\u00a0$101,997\u00a0$(157,785)\u00a0$259,782\u00a0
Add: Provision for income taxes\u00a03,705\u00a0\u00a0\u00a04,189\u00a0\u00a0\u00a0(484)\u00a0\u00a07,586\u00a0\u00a07,357\u00a0\u00a0\u00a0229\u00a0
Add: Equity-based compensation expense\u00a0510\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u00a0510\u00a0\u00a0\u00a01,128\u00a0\u00a0\u2014\u00a0\u00a0\u00a01,128\u00a0
Add: Acquisition and transaction expenses\u00a04,261\u00a0\u00a0\u00a02,848\u00a0\u00a0\u00a01,413\u00a0\u00a0\u00a010,195\u00a0\u00a08,340\u00a0\u00a0\u00a01,855\u00a0
Add: Losses on the modification or extinguishment of debt and capital lease obligations\u00a0\u2014\u00a0\u00a0\u00a019,861\u00a0\u00a0\u00a0(19,861)\u00a0\u00a0\u2014\u00a0\u00a019,861\u00a0\u00a0\u00a0(19,861)
Add: Changes in fair value of non-hedge derivative instruments\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0
Add: Asset impairment charges\u00a0\u2014\u00a0\u00a0\u00a04,495\u00a0\u00a0\u00a0(4,495)\u00a0\u00a01,220\u00a0\u00a0128,171\u00a0\u00a0\u00a0(126,951)
Add: Incentive allocations\u00a04,274\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u00a04,274\u00a0\u00a0\u00a012,540\u00a0\u00a0\u2014\u00a0\u00a0\u00a012,540\u00a0
Add: Depreciation and amortization expense(1)\u00a059,380\u00a0\u00a0\u00a041,329\u00a0\u00a0\u00a018,051\u00a0\u00a0\u00a0157,084\u00a0\u00a0145,754\u00a0\u00a0\u00a011,330\u00a0
Add: Interest expense and dividends on preferred shares\u00a048,519\u00a0\u00a0\u00a046,962\u00a0\u00a0\u00a01,557\u00a0\u00a0\u00a0141,436\u00a0\u00a0152,570\u00a0\u00a0\u00a0(11,134)
Add: Pro-rata share of Adjusted EBITDA from unconsolidated entities(2)\u00a0642\u00a0\u00a0\u00a0(241)\u00a0\u00a0883\u00a0\u00a0\u00a096\u00a0\u00a0165\u00a0\u00a0\u00a0(69)
Less: Equity in (earnings) losses of unconsolidated entities\u00a0(46)\u00a0\u00a0358\u00a0\u00a0\u00a0(404)\u00a0\u00a01,669\u00a0\u00a0125\u00a0\u00a0\u00a01,544\u00a0
Less: Non-controlling share of Adjusted EBITDA\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0\u00a0\u2014\u00a0\u00a0\u00a0\u2014\u00a0
Adjusted EBITDA (non-GAAP)$154,218\u00a0\u00a0$108,863\u00a0\u00a0$45,355\u00a0\u00a0$434,951\u00a0$304,558\u00a0\u00a0$130,393\u00a0

___________________________________________________

\n

(1) Includes the following items for the three months ended September\u00a030, 2023 and 2022: (i) depreciation and amortization expense of $43,959 and $34,853, (ii) lease intangible amortization of $3,726 and $3,291 and (iii) amortization for lease incentives of $11,695 and $3,185, respectively. Includes the following items for the nine months ended September\u00a030, 2023 and 2022: (i) depreciation and amortization expense of $123,399 and $115,461, (ii) lease intangible amortization of $11,325 and $10,259 and (iii) amortization for lease incentives of $22,360 and $20,034, respectively.

\n

(2) Includes the following items for the three months ended September 30, 2023 and 2022: (i)\u00a0net income (loss) of $46 and $(358), (ii)\u00a0depreciation and amortization expense of $367 and $117 and (iii) acquisition and transaction expense of $229 and $0, respectively. Includes the following items for the nine months ended September 30, 2023 and 2022: (i)\u00a0net loss of $1,669 and $125, (ii)\u00a0depreciation and amortization expense of $1,202 and $290 and (iii) acquisition and transaction expense of $563 and $0, respectively.


\"Primary

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\nSource: FTAI Aviation Ltd.

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\n\n \n \n \n\n\n\n\n \n \n\n", + "page_last_modified": " Wed, 28 Feb 2024 15:24:37 GMT" + }, + { + "page_name": "FTAI Aviation (FTAI) Dividend Dates 2023 & Dividend History - ...", + "page_url": "https://uk.investing.com/equities/fortress-transport-infrast-dividends", + "page_snippet": "Get details on the FTAI Aviation dividend dates and dividend history, find the FTAI ex-dividend date.Get details on the FTAI Aviation dividend history and find the FTAI ex-dividend date. View also the dividend payment date and dividend yield.", + "page_result": " \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFTAI Aviation (FTAI) Dividend Dates 2023 & Dividend History - Investing.com UK\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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FTAI Aviation Ltd (FTAI)

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\n56.40\n-0.24\n  \n-0.43%\n
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\n\n15:24:00 - Real-time Cboe. Currency in USD ( Disclaimer )\n
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    \n
  • Volume: 61,648
    • \n
  • Bid/Ask: 0.00 / 0.00
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  • Day's Range: 56.29 - 57.61
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\nFTAI Aviation\n56.40\n-0.24\n-0.43%\n
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FTAI Dividend Date, History & Yield

\n\n
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\nGet details on the FTAI Aviation dividend history and find the FTAI ex-dividend date. View also the dividend payment date and dividend yield.\n
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Ex-Dividend DateDividendTypePayment DateYield
Mar 07, 20240.3\n\nMar 20, 20242.12%
Nov 13, 20230.3\n\nNov 28, 20232.92%
Aug 11, 20230.3\n\nAug 29, 20233.47%
May 11, 20230.3\n\nMay 23, 20234.31%
Mar 09, 20230.3\n\nMar 22, 20234.60%
Nov 10, 20220.3\n\nNov 28, 20226.67%
Nov 10, 20220.3\n\nNov 28, 20226.67%
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\n\n", + "page_last_modified": "" + }, + { + "page_name": "FTAI - FTAI Aviation Ltd Stock Price Quote - NASDAQ | Morningstar", + "page_url": "https://www.morningstar.com/stocks/xnas/ftai/quote", + "page_snippet": "See the latest FTAI Aviation Ltd stock price (NASDAQ:FTAI), related news, valuation, dividends and more to help you make your investing decisions.It invests in aviation assets and aerospace products that generate strong and stable cash flows with the potential for earnings growth and asset appreciation. ... Our Quantitative Research team models direct competitors or comparable companies from a bottom-up perspective to find companies describing their business in a similar fashion. * Trading data in this section is delayed by at least 15 minutes. Yes. FTAI has a forward dividend yield of 3.33%. See FTAI\u2019s full dividends and stock split history on the Dividend tab. Yes. FTAI has a forward dividend yield of 3.33%. See FTAI\u2019s full dividends and stock split history on the Dividend tab. Dividend yield allows investors, particularly those interested in dividend-paying stocks, to compare the relationship between a stock\u2019s price and how it rewards stockholders through dividends. Learn more about dividend yield. FTAI\u2019s market cap is 3.59 Bil. Market capitalization is calculated by taking a company\u2019s share price and multiplying it by the total number of shares. It\u2019s often used to measure a company\u2019s size. In the Morningstar Style Box, large-cap names account for the largest 70% of U.S. stocks, mid-cap names account for the largest 70\u201390%, and small-cap names are the remaining 10% of companies. FTAI\u2019s stock style is Small Core. Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated. High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses.", + "page_result": "\n\n \n FTAI Stock Price Quote | Morningstar\n \n \n
Skip to Content
\"Morningstar\" \"Morningstar\"
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FTAI Aviation Ltd FTAI

\n\t\t\tMorningstar Rating\n\t\t
Unlock
Stock XNAS Rating as of
$56.40 \u22120.24\n\t\t\t\t\t(0.42%)\n\t\t\t\t
\n\t\t\t\tView Full Chart\n\t\t\t \n
As of Cboe BZX Real-Time Price Open
\n\t\t\tUnlock our analysis with Morningstar Investor\n\t\t
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About Quantitative Ratings

\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tMorningstar Quantitative Ratings for Stocks are generated using an algorithm that compares companies that are\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tnot under analyst coverage to peer companies that do receive analyst-driven ratings. Companies with quantitative\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tratings are not formally covered by a Morningstar analyst, but are statistically matched to analyst-rated\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tcompanies, allowing our models to calculate a quantitative moat, fair value, and uncertainty rating.\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t

Price vs Fair Value

\n\t\t\tView History\n\t\t \n
\n\t\t\t\t\t\tFTAI is trading at a 11% premium.\n\t\t\t\t\t
\n\t\t\t\t\t\t\tPrice\n\t\t\t\t\t\t
$56.74
\n\t\t\t\t\t\t\tFair Value\n\t\t\t\t\t\t
$22.75
\n\t\t\t\t\t\t\tUncertainty\n\t\t\t\t\t\t
High
\n
\n\n
\n\n\n
\n\n\n\n
\n\n\n\n\n
1-Star Price
$35.29
5-Star Price
$81.94
Economic Moat
Yvmtzn
Capital Allocation
\u2014
\n\t\t\tIs it the right time to buy, sell, or hold?\n\t\t
\n\t\t\t\t\t\t\t\t\t\tStart a free trial of Morningstar Investor to unlock exclusive ratings and continuous analyst coverage to help you decide if FTAI is a good fit for your portfolio.\n\t\t\t\t\t\t\t\t\t
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News

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Trading Information

Previous Close Price
$56.63
Day Range
$56.33\u201357.31
52-Week Range
$22.76\u201359.98
Bid/Ask
$56.33\n\t\t\t\t/\n\t\t\t\t$56.64
Market Cap
$5.65 Bil
Volume/Avg
47,625\n\t\t\t\t/\n\t\t\t\t740,391

Key Statistics

Price/Earnings (Normalized)
61.67
Price/Sales
4.86
Dividend Yield (Trailing)
2.12%
Dividend Yield (Forward)
2.12%
Total Yield
2.12%

Company Profile

FTAI Aviation Ltd is a aerospace company .It owns and maintains commercial jet engines with a focus on CFM56 engines. FTAI owns and leases jet aircraft which often facilitates the acquisition of engines at attractive prices. It invests in aviation assets and aerospace products that generate strong and stable cash flows with the potential for earnings growth and asset appreciation.
Sector
Industrials
Industry
Rental & Leasing Services
Stock Style Box
Small Growth
Total Number of Employees
170
Website
https://www.ftaiaviation.com

Comparables

Valuation

View More \n
\n\t\tMetric\n\t
\n\t\tFTAI\n\t
\n\t\t01725\n\t
\n\t\tMSICH\n\t
Price/Earnings (Normalized)
 61.67\u2014\u2014
Price/Book Value
 32.414.16\u2014
Price/Sales
 4.861.16\u2014
Price/Cash Flow
 27.76\u2014\u2014
Price/Earnings
\n\t\t\t\t\t\t\tFTAI\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t01725\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\tMSICH\n\t\t\t\t\t\t

Financial Strength

\n\t\tMetric\n\t
\n\t\tFTAI\n\t
\n\t\t01725\n\t
\n\t\tMSICH\n\t
Quick Ratio
 2.760.330.76
Current Ratio
 3.040.494.65
Interest Coverage
 2.14\u22127.692.57
Quick Ratio
\n\t\t\t\t\t\t\tFTAI\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t01725\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\tMSICH\n\t\t\t\t\t\t

Profitability

\n\t\tMetric\n\t
\n\t\tFTAI\n\t
\n\t\t01725\n\t
\n\t\tMSICH\n\t
Return on Assets (Normalized)
 4.01%\u221216.51%3.10%
Return on Equity (Normalized)
 115.11%\u221277.49%4.26%
Return on Invested Capital (Normalized)
 11.36%\u221220.50%6.82%
Return on Assets
\n\t\t\t\t\t\t\tFTAI\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t01725\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\tMSICH\n\t\t\t\t\t\t
\n\t\t\tSee how this stock stacks up to its competitors with Morningstar Investor\n\t\t
Start Free Trial

Rental & Leasing Services Industry Comparables

\n\t\t\tScreen in Investor\n\t\t \n
\n\t\t\t\t\tTicker\n\t\t\t\t
\n\t\t\t\t\tName\n\t\t\t\t
\n\t\t\t\t\tMorningstar Rating for Stocks\n\t\t\t\t
\n\t\t\t\t\tEconomic Moat\n\t\t\t\t
\n\t\t\t\t\tMarket Cap\n\t\t\t\t
\n\t\tURI\n\t
United Rentals Inc\n\n\nVqfy$45.5 Bil
\n\t\tASHTY\n\t
Ashtead Group PLC ADR\n\n\nHgfzyn$30.6 Bil
\n\t\tASHTF\n\t
Ashtead Group PLC\n\n\nCpyjyl$30.6 Bil
\n\t\tAER\n\t
AerCap Holdings NV\n\n\nHtlkf$15.7 Bil
\n\t\tUHAL\n\t
U-Haul Holding Co\n\n\nLnkh$12.3 Bil
\n\t\tUHAL.B\n\t
U-Haul Holding Co Ordinary Shares - Series N\n\n\nMxyl$12.3 Bil
\n\t\tLZRFY\n\t
Localiza Rent A Car SA ADR\n\n\nVshlkx$11.6 Bil
\n\t\tWSC\n\t
WillScot Mobile Mini Holdings Corp\n\n\nRgnmk$9.0 Bil
\n\t\tELEEF\n\t
Element Fleet Management Corp\n\n\nDjbbst$6.6 Bil
\n\t\tHRI\n\t
Herc Holdings Inc\n\n\nWpwh$4.3 Bil

\n\t\t\tSponsor Center\n\t\t

\n \n\n", + "page_last_modified": "" + }, + { + "page_name": "FTAI Aviation Ltd. (FTAI) Stock Dividend Date & History - TipRanks.com", + "page_url": "https://www.tipranks.com/stocks/ftai/dividends", + "page_snippet": "FTAI Aviation Ltd. (FTAI) last ex-dividend date was on Nov 13, 2023. FTAI Aviation Ltd. distributed $0.3 per share that represents a 2.84% dividend yield.FTAI Aviation's previous ex-dividend date was on Nov 13, 2023. FTAI Aviation shareholders who own FTAI stock before this date received FTAI Aviation's last dividend payment of $0.3 per share on Nov 28, 2023. FTAI's next ex-dividend date has not been announced yet. When is FTAI Aviation Ltd. dividend payment date? When is FTAI Aviation Ltd. dividend payment date? FTAI Aviation\u2019s next quarterly payment date is on Nov 28, 2023, when FTAI Aviation shareholders who owned FTAI shares before Nov 13, 2023 received a dividend payment of $0.3 per share. Add FTAI to your watchlist to be reminded of FTAI's next dividend payment. FTAI Aviation\u2019s next quarterly payment date is on Nov 28, 2023, when FTAI Aviation shareholders who owned FTAI shares before Nov 13, 2023 received a dividend payment of $0.3 per share. Add FTAI to your watchlist to be reminded of FTAI's next dividend payment. Does FTAI Aviation Ltd. have sufficient earnings to cover their dividend?", + "page_result": "\n \nFTAI Aviation Ltd. (FTAI) Stock Dividend Date & History - TipRanks.com\n\n\n\n\n\n\n \n \n \n\n \n \n \n \n \n \n \n
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FTAI Aviation Ltd. (FTAI)
NASDAQ:FTAI
\"US
FTAI
FTAI Aviation
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reports

FTAI Aviation (FTAI) Dividend Date & History

720 Followers

Dividend Data

Next Ex-Dividend Date
Mar 07, 2024
Payment date\u200b
Mar 20, 2024
Dividend Amount Per Share
$0.3
Quarterly
Dividend Yield
2.2%
Sector: Industrial Goods
Sector Average: 1.639%
Payout Ratio
57.14%
Dividend Growth\u200b
a year ago
Since 2022
Analyst Consensus >
Strong Buy
Last 3 Months
Open FTAI in Dividend Calculator >

Dividend Amount Per Share\u200b

Daily Dividend Calendar >

FTAI Dividend Yield Range

See FTAI Stats & Charts >

FTAI Dividend History

Ex-Date
Amount
Frequency
Declaration Date
Record Date
Payment Date
Mar 07, 2024$0.30Quarterly\u2015Mar 08, 2024Mar 20, 2024
Nov 13, 2023$0.30QuarterlyOct 25, 2023Nov 14, 2023Nov 28, 2023
Aug 11, 2023$0.30QuarterlyJul 31, 2023Aug 14, 2023Aug 29, 2023
May 11, 2023$0.30QuarterlyApr 25, 2023May 12, 2023May 23, 2023
Mar 09, 2023$0.30QuarterlyFeb 23, 2023Mar 10, 2023Mar 22, 2023
Nov 10, 2022$0.30QuarterlyOct 27, 2022Nov 14, 2022Nov 28, 2022
Aug 12, 2022$0.33QuarterlyJul 28, 2022Aug 15, 2022Aug 29, 2022
May 12, 2022$0.33QuarterlyApr 28, 2022May 13, 2022May 24, 2022
Mar 10, 2022$0.33QuarterlyFeb 24, 2022Mar 11, 2022Mar 23, 2022
Nov 12, 2021$0.33QuarterlyOct 28, 2021Nov 15, 2021Nov 29, 2021
The table shows FTAI Aviation Ltd.\u2019s dividend history, including amount per share, payout frequency, declaration, record, and payment dates.

FAQ

Does FTAI Aviation Ltd. pay dividends?
Yes, FTAI has paid a dividend within the past 12 months.
    How much is FTAI Aviation Ltd.'s dividend?
    FTAI pays a dividend of $0.3 per share. FTAI's annual dividend yield is 2.2%.
      When is FTAI Aviation Ltd. ex-dividend date?
      FTAI Aviation's upcoming ex-dividend date is on Mar 07, 2024. FTAI Aviation shareholders who own FTAI stock before this date will receive FTAI Aviation's next dividend payment of $0.3 per share on Mar 20, 2024. Add FTAI to your watchlist to be reminded before FTAI Aviation's ex-dividend date.
        When is FTAI Aviation Ltd. dividend payment date?
        FTAI Aviation's next dividend payment date is on Mar 20, 2024, when FTAI Aviation shareholders who own FTAI shares before Mar 07, 2024 will receive a dividend payment of $0.3 per share. Add FTAI to your watchlist to be reminded of FTAI's next dividend payment.
          Does FTAI Aviation Ltd. have sufficient earnings to cover their dividend?
          Yes, FTAI's past year earnings per share was $2.1, and their annual dividend per share is $1.20. FTAI's dividend payout ratio is 57.14% ($1.20/$2.1) which is sustainable.

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