FTAI Aviation Ltd Stock Price, News & Analysis

FTAI Aviation announced early results of its cash tender offer for up to $300 million of its 9.750% Senior Notes due 2027. As of June 18, 2024, $269.093 million of these notes were validly tendered. The notes were offered at $1,029 per $1,000 principal amount, including a $30 early tender payment. The tender offer is set to expire on July 5, 2024, with an early payment date expected on June 21, 2024. Holders who tendered their notes after the June 18 deadline will receive the tender consideration of $999 per $1,000 principal amount without the early tender payment.

FTAI Aviation has announced an extension to the early tender deadline for its 9.750% Senior Notes due 2027, now set for June 18, 2024. The expiration time has also been extended to July 5, 2024. The company aims to purchase up to $300 million in principal amount of these notes. As of June 14, 2024, $258.468 million of the notes have been tendered. Holders who tender their notes by the new early deadline will receive an extra $30 per $1,000 of principal. The withdrawal deadline has not been extended. The tender offer is subject to specific conditions, including the completion of satisfactory debt financing. J.P. Morgan Securities is the dealer manager for the offer.

FTAI Aviation has announced a five-year EngineWise maintenance services agreement with IAE International Aero Engines AG for V2500 engines. The deal covers over 100 full performance restoration shop visits. FTAI aims to grow its V2500 engine portfolio from 140 to 200 by 2025. The V2500 engine is known for its efficiency, providing up to 3% fuel burn and emissions advantage over prior generations. The engine supports commercial, cargo, and military aircraft and is backed by a global network of 13 maintenance facilities. This agreement is one of IAE's largest with a non-airline customer.

FTAI Aviation has increased its cash tender offer for the 9.750% Senior Notes due 2027 from $100 million to $300 million. The tender offer expires on July 2, 2024, unless extended or terminated earlier. Holders who tender by June 14, 2024, will receive an early tender payment of $30 per $1,000 principal amount. Otherwise, holders will receive $999 per $1,000 principal amount. The company will also pay accrued and unpaid interest from the last interest payment date to the settlement date. Key conditions for the offer include successful debt financing. J.P. Morgan Securities is the dealer manager for the tender offer.

FTAI Aviation (NASDAQ: FTAI) has announced a cash tender offer for up to $100 million aggregate principal amount of its outstanding 9.750% Senior Notes due 2027. The offer will expire on July 2, 2024, at 5:00 p.m. New York City time, unless extended or earlier terminated by FTAI , a subsidiary of the company.

Holders who tender their notes by June 14, 2024, will receive an early tender payment of $30 per $1,000 principal, in addition to the total consideration of $1,029.00 per $1,000 principal amount. Those who tender after this date will receive $999.00 per $1,000 principal amount. Accrued and unpaid interest will also be paid.

The tender offer is contingent upon the completion of a satisfactory debt financing. J.P. Morgan Securities is acting as the dealer manager, and D.F. King & Co., Inc. is the tender and information agent.

FTAI Aviation (NASDAQ: FTAI) has agreed to acquire Lockheed Martin Commercial Engine Solutions (LMCES) from Lockheed Martin Canada for $170 million. The deal, expected to close in the second half of 2024, is subject to regulatory approvals. LMCES operates a 526,000-square-foot aircraft engine maintenance facility in Montréal, focusing on CFM56 engine repairs. This acquisition will enhance FTAI’s Maintenance, Repair, and Exchange (MRE) business and establish permanent engine and module manufacturing capabilities in Canada. Currently serving over 50 airlines and lessors globally, FTAI aims to expand its module customer base and create a center of excellence for piece-part repairs. CEO Joe Adams highlighted the acquisition as a milestone for FTAI, emphasizing the value of the facility's technical expertise and quality.

FTAI Aviation announced the pricing of an underwritten public offering of 2,090,561 ordinary shares by FIG and an employee of FIG , generating gross proceeds of approximately $171.4 million.

The shares will be offered through Citigroup, the sole underwriter, on the Nasdaq Global Select Market and other venues.

The offering is expected to close on May 30, 2024, subject to customary conditions. FTAI Aviation will not receive any proceeds from the sale.

This offering follows the Company's effective shelf registration statement filed with the SEC, and prospective investors are encouraged to read the relevant documents on the SEC's website for complete information.

FTAI Aviation announced a secondary offering of 2,090,561 ordinary shares by FIG and an employee of FIG The shares will be sold through Citigroup, the sole underwriter, and will not generate proceeds for FTAI Aviation itself. The offering will occur on the Nasdaq Global Select Market and other venues, based on prevailing or negotiated prices. The company emphasizes the need for investors to review the prospectus and related documents filed with the SEC for detailed information. These documents are available on the SEC's website or through Citigroup's provided contact information.

FTAI Aviation announced the internalization of its management operations, effective May 28, 2024. The company terminated its Management and Advisory Agreement with FIG , agreeing to pay $150 million in cash and issue 1,866,949 ordinary shares to the Manager. This move is expected to result in initial annualized cost savings of $30 million, increasing over time. The senior leadership team will remain unchanged, and offers will be extended to certain employees of the Manager. A Transition Services Agreement will ensure continuity of services during the transition period.