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.
FTAI Aviation has completed the sale leaseback of 16 A320 family aircraft to ITA Airways, with average lease terms of 36 months. This transaction, involving Aircraft Purchase Company No. 12 Limited, will enable FTAI to manage CFM56 engine maintenance, enhancing operational efficiency for ITA Airways. Following the closure of remaining deals, FTAI anticipates owning 263 CFM56 engines. Both companies emphasize the strategic importance of this partnership for supporting ITA Airways' business plan and commitment to high standards in air transport.
Fortress Transportation and Infrastructure Investors (NYSE:FTAI) announced that CEO Joe Adams will present at the Stephens Annual Investment Conference on December 2, 2021, at 2:00 PM (CT) in Nashville, Tennessee. Investors can access the presentation materials on the company’s website, www.ftandi.com. FTAI focuses on acquiring high-quality infrastructure and equipment for global transportation, targeting assets that generate stable cash flows and potential for growth.
Fortress Transportation and Infrastructure Investors (FTAI) reported Q3 2021 results with a net loss of $38.9 million, equating to a loss of $0.44 per share. The company generated $43.2 million in cash from operating activities. Funds Available for Distribution (FAD) stood at $39.4 million, with $90.5 million from its aviation leasing portfolio. A dividend of $0.33 per share was declared, payable on November 29, 2021. Notably, Long Ridge Energy Generation has begun commercial operations, and FTAI Aviation executed significant leaseback transactions for A320 aircraft.
Fortress Transportation and Infrastructure Investors LLC (FTAI) is set to announce its third-quarter 2021 financial results on October 28, 2021, after market close. The earnings release and supplemental information will be available on the company's website. Management will hold a conference call on October 29, 2021, at 8:00 AM ET, accessible via phone and a live webcast. A replay of the call will be available from October 29 through November 5, 2021. FTAI focuses on acquiring infrastructure and equipment essential for global transportation, targeting strong cash flows and potential growth.
FTAI Aviation is the launch customer for Aeris Portal, a new cloud-based software from LeaseWorks that enhances customer interactions for lessors in the aviation industry. Announced during the ISTAT EMEA conference in Edinburgh, this platform enables real-time asset inventory searches and streamlined invoicing processes. David Moreno, COO of FTAI Aviation, emphasized the importance of providing customers with quick access to information. The portal aims to improve operational efficiency and support digital growth amidst ongoing challenges in the aviation sector.
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Fortress Transportation and Infrastructure Investors announced a public offering of 12 million common shares at $25.50 each, aiming for gross proceeds of approximately $306 million. The offering will close on September 14, 2021, pending customary conditions. The proceeds are intended to repay part of the senior unsecured bridge term loans used for the acquisition of Transtar, LLC. Barclays, Morgan Stanley, and Citigroup are the joint book-running managers for the offering. This release emphasizes the company's strategic focus on enhancing its financial position and long-term asset value.
Fortress Transportation and Infrastructure Investors (NYSE: FTAI) announced a public offering of 12,000,000 common shares with an option for underwriters to purchase an additional 1,800,000 shares. The net proceeds will be used to repay part of the senior unsecured bridge term loans related to the acquisition of Transtar, LLC. Barclays, Morgan Stanley, and Citigroup are managing the offering. This follows the company's effective shelf registration statement filed with the SEC.
Fortress Transportation and Infrastructure Investors (FTAI) reported a Q2 2021 net loss attributable to shareholders of $36.5 million, translating to a loss of $0.42 per share. The company had net cash used in operating activities amounting to $15 million but generated $68.3 million in Funds Available for Distribution (FAD). A cash dividend of $0.33 per common share was declared, payable on August 30, 2021. Notable achievements include the acquisition of Transtar, a deal with ExxonMobil, and a lease arrangement for A319 aircraft. Financial results show a mixed performance with challenges in the infrastructure sector.
Fortress Transportation and Infrastructure Investors (NYSE: FTAI) announced that its subsidiary, Jefferson Energy, has secured a contract with ExxonMobil to expand terminal services. This includes constructing 1.9 million barrels of new storage capacity and five pipelines connecting to the Beaumont refinery, increasing total storage to 6.2 million barrels. The project aims to enhance logistics capabilities and strengthen the relationship between the two companies. Jefferson Energy has been operational since 2012 and currently offers over 4.3 million barrels of storage.