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FTAI Aviation Ltd. reports developments in aircraft engine maintenance, aftermarket products and aviation leasing. The company owns and maintains CFM56 and V2500 engines used on widely operated commercial aircraft and offers Maintenance, Repair and Exchange products for airlines and asset owners. News releases also cover the Aerospace Products and Aviation Leasing segments, aircraft and engine acquisitions, CFM International materials agreements, credit facilities, dividends and executive appointments.
Fortress Transportation and Infrastructure Investors (NYSE:FTAI) announced the acquisition of Transtar, LLC, a rail subsidiary of United States Steel Corporation (USS), for $640 million. The transaction, set to close in Q3 2021, includes a 15-year strategic rail partnership with USS, enhancing FTAI's rail business through essential services. This acquisition is expected to improve profitability via operational optimization and additional revenue streams from ancillary services. Regulatory approvals are pending, emphasizing the strategic importance of this deal in boosting FTAI's operational effectiveness.
Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) has announced the completion of the Paline pipeline interconnection project, enhancing connections to the Jefferson Energy terminal in Beaumont, Texas. The project features a new five-mile, 10-inch pipeline facilitating efficient light crude oil movement from Cushing, Oklahoma. This interconnection increases crude oil accessibility for customers, leveraging Jefferson Energy's existing infrastructure, including 4.3 million barrels of storage and multiple transport options. The initiative aligns with FTAI's commitment to increasing logistical capabilities and customer service.
Fortress Transportation and Infrastructure Investors (NYSE:FTAI) has announced that CEO Joe Adams will present at the Stifel 2021 Virtual Cross Sector Insight Conference on June 10, 2021, at 11:20 AM ET. Investors can access the presentation materials via the Investor Relations section of the company's website, www.ftandi.com. FTAI specializes in owning and acquiring essential infrastructure and equipment for global transportation, targeting assets that promise strong cash flows and growth potential.
Fortress Transportation and Infrastructure Investors (FTAI) reported its Q1 2021 financial results, showing a net cash used in operating activities of $(48,932) thousand and a net loss attributable to shareholders of $(34,540) thousand, equating to a basic and diluted loss per share of $(0.40). However, the company declared a cash dividend of $0.33 per common share for the quarter, payable on May 25, 2021. Funds Available for Distribution (FAD) reached $14,407 thousand, driven primarily by $60.6 million from the aviation leasing portfolio.
Fortress Transportation and Infrastructure Investors (NYSE:FTAI) announced that CEO Joe Adams will present at the Wolfe Global Transportation & Industrials Conference on May 27, 2021, at 10:50 AM ET. Investors can access presentation materials through the Company's Investor Relations webpage. FTAI specializes in acquiring infrastructure and equipment essential for global transportation, focusing on assets that provide stable cash flows and growth potential. The company is managed by an affiliate of Fortress Investment Group, a leading investment firm.
Fortress Transportation and Infrastructure Investors (NYSE:FTAI) has successfully completed the Southern Star pipeline project, connecting the Jefferson Energy terminal to the Motiva Port Neches terminal in Texas. This 24-inch crude oil pipeline has a throughput capacity of up to 288,000 barrels per day, allowing for efficient oil movements from various North American production basins. Jefferson Energy, which operates the terminal, continues to enhance its logistics capabilities, contributing to the overall growth strategy.
Fortress Transportation and Infrastructure Investors (NYSE:FTAI) plans to announce its financial results for Q1 2021 after market close on April 29, 2021. The earnings release will be available on the Company’s website. A conference call is scheduled for April 30, 2021, at 8:00 A.M. ET, accessible via phone or a public webcast. A replay of the call will be available shortly after the event until May 7, 2021. FTAI focuses on high-quality infrastructure and equipment, aiming for strong cash flow and potential earnings growth.
Fortress Transportation and Infrastructure Investors (FTAI) announced that its 2020 Schedule K-1 tax packages are now available online for shareholders. These documents can be accessed at www.taxpackagesupport.com/FTAI or through the Investor Center on FTAI's website. The mailing of these tax packages is set to begin before March 31, 2021. For more information, shareholders can contact FTAI Tax Package Support at (855) 225-9906.
FTAI focuses on acquiring high-quality infrastructure and equipment critical for global transportation.
On March 18, 2021, Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) announced the pricing of a public offering of 4,000,000 Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares, priced at $25.00 each, aiming for gross proceeds of approximately $100 million. The offering, set to close on March 25, 2021, is intended to fund general corporate purposes and future acquisitions, particularly in aviation. The company has granted underwriters a 30-day option to purchase an additional 600,000 shares for over-allotments.
On March 18, 2021, Fortress Transportation and Infrastructure Investors LLC (FTAI) announced a public offering of Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares with a liquidation preference of $25.00 each. The offering will be listed on the NYSE as 'FTAI PR C', with underwriters granted a 30-day option to purchase an additional 15% of shares for over-allotments. Proceeds will fund general corporate purposes, particularly future acquisitions and aviation investments. Joint book-running managers include Morgan Stanley and Citigroup.