FTAI Aviation Closes the Acquisition of LMCES
09 Setembro 2024 - 7:05PM
FTAI Aviation Ltd. (NASDAQ: FTAI) announces the successful
completion of its acquisition of Lockheed Martin Commercial Engine
Solutions (“LMCES”), a 526,000-square-foot aircraft engine
maintenance repair facility located in Montréal, Québec, from
Lockheed Martin Canada. The completion of the acquisition
strengthens FTAI Aviation’s Maintenance, Repair, and Exchange (MRE)
business with the ability to provide additional maintenance
services to airline customers.
The integration of LMCES’ maintenance
capabilities with FTAI’s current maintenance capabilities at
QuickTurn, in Miami, Florida, gives FTAI capacity to perform up to
1,350 CFM56 module overhauls and over 500 engine tests annually.
Both facilities will rebrand as FTAI Aviation Canada and FTAI
Aviation USA.
"Completing the acquisition of LMCES is a major
step towards FTAI Aviation becoming the unrivaled leader in MRE. We
look forward to continuing to serve our global customer base by
providing readily available, flexible, high-quality power while
savings owners and operators time and money," said Joe Adams, CEO
of FTAI.
About FTAI Aviation
Ltd.
FTAI owns and maintains commercial jet engines
with a focus on the Maintenance, Repair, and Exchange (MRE) of
CFM56 and V2500 engines. FTAI’s propriety portfolio of products,
including the Module Factory and a joint venture to manufacture
engine PMA, helps make CFM56 and V2500 engine maintenance simpler,
more cost-effective, significantly faster, and more environmentally
friendly. 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.
Cautionary Note Regarding
Forward-Looking Statements
This communication contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, including but not limited to expectations
regarding FTAI’s ability to further enhance our MRE business,
ability to provide additional maintenance services to airline
customers, expected synergies across the shops and cost efficiency.
You can identify these forward-looking statements by the use of
forward-looking words such as “outlook,” “believes,” “expects,”
“potential,” “continues,” “may,” “will,” “should,” “could,”
“seeks,” “approximately,” “predicts,” “intends,” “plans,”
“estimates,” “anticipates,” “target,” “projects,” “contemplates” or
the negative version of those words or other comparable words. Any
forward-looking statements contained in this communication are
based upon our historical performance and on our current plans,
estimates and expectations in light of information currently
available to us. The inclusion of this forward-looking information
should not be regarded as a representation by us that the future
plans, estimates or expectations contemplated by us will be
achieved. Such forward-looking statements are subject to various
risks and uncertainties and assumptions relating to our operations,
financial results, financial condition, business, prospects, growth
strategy and liquidity. Accordingly, there are or will be important
factors that could cause our actual results to differ materially
from those indicated in these statements, including, but not
limited to, the risk factors set forth in Item 1A. “Risk Factors”
of FTAI’s Annual Report on Form 10-K for the fiscal year
ended December 31, 2023 and FTAI’s Quarterly Reports on Form
10-Q, as updated by annual, quarterly and other
reports FTAI files with the SEC.
For further information, please contact:
Alan AndreiniInvestor RelationsFTAI Aviation
Ltd.(646) 734-9414aandreini@fortress.com
FTAI Aviation (NASDAQ:FTAI)
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