FTAI Aviation Announces Sale of Offshore Energy Vessels, Continuing Focus on Providing Power for the Aftermarket
FTAI Aviation has announced the sale of its remaining offshore energy vessels, the Pioneer and the Pride, for approximately $143 million.
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Rhea-AI Summary
FTAI Aviation has announced the sale of its remaining offshore energy vessels, the Pioneer and the Pride, for approximately $143 million. The company is strengthening its focus on its core business of providing power for the aftermarket of the CFM56 and V2500, which represent the two largest commercial engine programs.
Positive
- Sale of offshore vessels generates $143 million in proceeds
- Strategic focus on core aviation aftermarket business
- Divestment of non-core assets streamlines operations
Negative
- None.
Details
News Market Reaction – FTAI
The recorded move for FTAI in the trading session of this news was +2.30%.
Data tracked by StockTitan Argus. Session date unavailable.
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NEW YORK, Dec. 03, 2024 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (Nasdaq: FTAI) announces the sale of its remaining offshore energy vessels, the Pioneer and the Pride, for approximately
Cautionary Note Regarding Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. 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 Andreini
Investor Relations
FTAI Aviation Ltd.
(646) 734-9414
aandreini@fortress.com
IR@ftaiaviation.com
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