Financial Performance - For the three months ended September 30, 2025, total revenues increased by 43.2% to $667.1 million compared to $465.8 million in the same period of 2024[159]. - Net income attributable to shareholders for the nine months ended September 30, 2025, was $365.6 million, compared to a loss of $118.8 million in the same period of 2024[159]. - Total revenues increased by $201.3 million for the three months ended September 30, 2025, and by $609.3 million for the nine months ended September 30, 2025, primarily driven by a $406.6 million increase in Aerospace products revenue[161]. - Net income attributable to shareholders increased by $31.2 million for the three months ended September 30, 2025, and by $479.3 million for the nine months ended September 30, 2025[167]. - Adjusted EBITDA increased by $65.4 million for the three months ended September 30, 2025, and by $303.7 million for the nine months ended September 30, 2025[168]. - Net income attributable to shareholders decreased by $18.0 million for the three months ended September 30, 2025, but increased by $70.1 million for the nine months[177]. - Adjusted EBITDA decreased by $2.0 million for the three months ended September 30, 2025, but increased by $129.5 million for the nine months[178]. - Total revenues for the three months ended September 30, 2025, increased by $214.4 million, reaching $517.9 million compared to $303.5 million in 2024[185]. - Net income attributable to shareholders increased by $54.8 million for the three months ended September 30, 2025, totaling $148.6 million compared to $93.8 million in 2024[187]. - Adjusted EBITDA increased by $78.6 million for the three months ended September 30, 2025, amounting to $180.4 million compared to $101.8 million in 2024[188]. Revenue Breakdown - Aerospace products revenue for the nine months ended September 30, 2025, was $1.1 billion, up 55.8% from $737.7 million in 2024[159]. - Aerospace products revenue for the three months ended September 30, 2025, increased by $155.7 million, mainly due to a $145.7 million increase in CFM56-5B, CFM56-7B, and V2500 engine and module sales[162]. - MRE Contract revenue increased by $58.7 million for the three months ended September 30, 2025, attributed to higher engine and module sales[185]. Expenses and Costs - The company incurred total expenses of $1.3 billion for the nine months ended September 30, 2025, an increase of 11% from $1.2 billion in 2024[159]. - Total expenses increased by $149.7 million for the three months ended September 30, 2025, primarily due to a $143.4 million increase in cost of sales[163]. - Total expenses for the three months ended September 30, 2025, increased by $138.4 million, totaling $343.2 million compared to $204.8 million in 2024[185]. - Cost of sales increased by $412.7 million, primarily due to increases in CFM56-5B, CFM56-7B, and V2500 engine and module sales[166]. - Operating expenses increased by $7.9 million, mainly due to higher compensation and benefits expenses related to the acquisition of LMCES[185]. Impairments and Charges - The company recognized an impairment charge of $120.0 million for leasing equipment assets due to the impact of sanctions related to Russia's invasion of Ukraine[150]. Assets and Liabilities - As of September 30, 2025, total consolidated assets were $4.2 billion and total equity was $252.5 million[147]. - As of September 30, 2025, the Aviation Leasing segment owned and managed 323 aviation assets, including 48 commercial aircraft and 275 engines[170]. - The company has eight aircraft and seventeen engines still located in Russia, with an insured value of $210.7 million[151]. - As of September 30, 2025, the company had outstanding principal and interest payment obligations of $3.5 billion and $1.2 billion, respectively[206]. Tax Provisions - The provision for income taxes increased by $19.0 million for the three months ended September 30, 2025, and by $87.2 million for the nine months ended September 30, 2025, primarily due to higher income generated in the Aerospace Products segment[164]. - The provision for income taxes increased by $5.6 million for the three months ended September 30, 2025, primarily due to changes in income from leasing activities[176]. - The provision for income taxes increased by $22.4 million for the three months ended September 30, 2025, primarily due to increased income from Aerospace Products activities[186]. Strategic Initiatives - The Strategic Capital Initiative launched on December 30, 2024, aims to acquire 737NG and A320ceo aircraft, allowing the company to maintain an asset-light business model[153]. - The company expects to manage aircraft for and make minority investments in future partnerships under the Strategic Capital Initiative[199]. - The company acquired Lockheed Martin Commercial Engine Solutions to establish permanent engine and module manufacturing capabilities[181]. - The company acquired a 50% equity interest in QuickTurn Europe, enhancing its engine services capabilities[183]. Cash Flow and Investments - Cash used for investments was $757.4 million during the nine months ended September 30, 2025, compared to $1.0 billion in the same period of 2024[203]. - Proceeds from the sale of assets were $1,375.5 million during the nine months ended September 30, 2025, compared to $542.9 million in 2024[203]. - Cash flows used in operating activities were $(131,666) thousand for the nine months ended September 30, 2025, compared to $(146,153) thousand in 2024[205]. Interest and Debt - Interest expense increased by $25.9 million, reflecting increases in interest expense on various senior notes, partially offset by decreases in other notes[202]. - The company’s borrowing agreements are based on a variable interest rate index, such as SOFR, which may increase debt costs without a corresponding increase in rents or cash flow from leases[216]. - A sensitivity analysis indicates that changes in interest rates could impact the company's financial condition, but results should not be viewed as forecasts due to market complexities[217]. - As of September 30, 2025, a hypothetical 100-basis point increase or decrease in variable interest rates on borrowings would not affect interest expense over the next 12 months[218].

Financial Performance - For the three months ended June 30, 2025, total revenues increased by 52.5% to $676.2 million compared to $443.6 million for the same period in 2024[160]. - Net income attributable to shareholders for the six months ended June 30, 2025, was $251.6 million, compared to a loss of $196.9 million in the same period of 2024[160]. - Total revenues increased by $232.6 million for the three months ended June 30, 2025, driven by a $175.5 million increase in aerospace products revenue and a $69.6 million increase in MRE contract revenue[164]. - Net income increased by $385.3 million and $448.0 million for the three and six months ended June 30, 2025, primarily due to higher revenues[168]. - Net income attributable to shareholders increased by $48.7 million for the three months ended June 30, 2025, totaling $133.6 million compared to $84.9 million in 2024[187]. Revenue Breakdown - Aerospace products revenue for the three months ended June 30, 2025, was $420.7 million, up 71.6% from $245.2 million in the prior year[160]. - Aerospace products revenue increased by $250.9 million for the six months ended June 30, 2025, mainly due to a $237.0 million increase in engine and module sales[166]. - Maintenance revenue increased by $21.9 million for the three months ended June 30, 2025, driven by higher aircraft maintenance revenue[164]. - Other revenue increased by $2.4 million due to servicing fees earned as the Servicer to the 2025 Partnership[179]. - Aerospace products revenue rose by $175.5 million, primarily driven by a $172.1 million increase in CFM56-5B, CFM56-7B, and V2500 engine and module sales[185]. Expenses and Costs - Total expenses for the three months ended June 30, 2025, decreased by 23.1% to $465.8 million from $606.2 million in the same period of 2024[160]. - Total expenses decreased by $140.4 million for the three months ended June 30, 2025, and by $23.1 million for the six months ended June 30, 2025[166]. - Total expenses for the three months ended June 30, 2025, increased by $176.8 million, totaling $331.6 million compared to $154.8 million in 2024[185]. - Cost of sales increased by $170.6 million, correlating with the rise in Aerospace products revenue[185]. - The provision for income taxes increased by $20.9 million during the three months ended June 30, 2025, primarily due to increased income from Aerospace Products activities[186]. Strategic Initiatives - The company launched a Strategic Capital Initiative on December 30, 2024, focusing on acquiring 737NG and A320ceo aircraft[153]. - The company expects to manage aircraft for and make minority investments in future partnerships under the Strategic Capital Initiative[154]. - The company acquired Lockheed Martin Commercial Engine Solutions to enhance its engine and module manufacturing capabilities[181]. - The company also acquired the remaining interest in Quick Turn Engine Center LLC, specializing in maintenance and testing for specific engine models[182]. - The company acquired a 50% equity interest in QuickTurn Europe, enhancing its engine services capabilities[183]. Asset Management - As of June 30, 2025, the company reported total consolidated assets of $4.1 billion and total equity of $164.9 million[147]. - As of June 30, 2025, the Aviation Leasing segment owns and manages 375 aviation assets, including 63 commercial aircraft and 312 engines[171]. - As of June 30, 2025, the aviation equipment was approximately 70% utilized, with a weighted average remaining lease term of 46 months for aircraft and 30 months for engines[172]. - Asset sales revenue decreased by $24.5 million for the three months ended June 30, 2025, due to a decrease in the number of sales transactions of commercial aircraft and engines[164]. - Proceeds from the sale of assets increased significantly to $986.5 million in the first half of 2025, up from $333.7 million in 2024[208]. Debt and Liquidity - As of June 30, 2025, the company had outstanding principal and interest payment obligations of $3.5 billion and $1.3 billion, respectively[206]. - Interest expense increased by $8.8 million for the three months ended June 30, 2025, reflecting an increase in average debt outstanding of approximately $657.4 million[170]. - The company expects to meet future short-term liquidity requirements through cash on hand, unused borrowing capacity, and net cash from current operations[210]. - The company is exposed to interest rate risk, particularly related to its Revolving Credit Facility, which is based on a variable interest rate index[214]. - Management believes adequate capital and borrowings are available to fund the company's commitments as required[210]. Shareholder Distributions - Distributions to shareholders, including cash dividends, were $71.4 million during the six months ended June 30, 2025, compared to $76.8 million in 2024[200]. - The company declared cash dividends totaling $123.0 million on ordinary shares and $25.9 million on preferred shares over the last twelve months[209]. - The company redeemed all outstanding Series B preferred shares at a price of $25.00 per share, plus $2.4 million in accumulated distributions[208]. Other Financial Metrics - Adjusted EBITDA increased by $133.9 million and $238.4 million for the three and six months ended June 30, 2025, compared to the prior year[169]. - Adjusted EBITDA for the three months ended June 30, 2025, increased by $74.3 million to $199.303 million[178]. - Adjusted EBITDA decreased by $9.1 million and $15.6 million during the three and six months ended June 30, 2025, respectively[196]. - Cash flows used in operating activities were $107.2 million for the six months ended June 30, 2025, compared to $165.3 million for the same period in 2024[208]. - Cash used for investments was $594.9 million during the six months ended June 30, 2025, compared to $563.1 million in the same period of 2024[200].

Financial Performance - Net income attributable to shareholders for Q2 2025 was $161.7 million, representing an 80% increase compared to Q1 2025[5] - Basic earnings per ordinary share for Q2 2025 was $1.58, while diluted earnings per share was $1.57[2] - Total revenues for Q2 2025 were $676.2 million, up from $443.6 million in Q2 2024, marking a year-over-year increase of 52.5%[15] - Net income attributable to shareholders for Q2 2025 was $161,689, a significant improvement of $389,894 compared to a net loss of $228,205 in Q2 2024[22] - Net income attributable to shareholders for Q2 2025 was $133.6 million, an increase of 57.3% from $84.9 million in Q2 2024[26] - For the first half of 2025, net income attributable to shareholders was $240.2 million, a 58.7% increase compared to $151.3 million in the same period of 2024[26] Adjusted EBITDA - Adjusted EBITDA for Q2 2025 reached $347.8 million, with Aerospace Products segment Adjusted EBITDA increasing 26% from Q1 to $164.9 million[2][5] - Adjusted EBITDA for Q2 2025 reached $347,805, reflecting an increase of 62.6% from $213,904 in Q2 2024[22] - Adjusted EBITDA for Q2 2025 reached $164.9 million, up 80.7% from $91.2 million in Q2 2024[26] - Adjusted EBITDA for the first half of 2025 was $295.8 million, representing an 83.2% increase from $161.5 million in the first half of 2024[26] Cash Flow and Investments - The company generated over $400 million in positive Adjusted Free Cash Flow during the quarter[5] - The company reported net cash used in operating activities of $(110.3) million for Q2 2025[27] - Net cash provided by investing activities for Q2 2025 was $523.8 million[27] Assets and Liabilities - Total current assets increased to $1,759,385, up from $1,226,018, representing a growth of 43.5%[18] - Total assets as of June 30, 2025, were $4,101,075, a slight increase from $4,037,952 at the end of 2024[18] - Long-term debt remained stable at $3,444,612, compared to $3,440,478 at the end of 2024[18] - Total liabilities decreased slightly to $3,936,131 from $3,956,584, showing a reduction of 0.5%[18] - The company’s equity increased to $164,944, up from $81,368, marking a growth of 102.5%[18] Operational Highlights - FTAI's production ramped up to 184 CFM56 Modules in Q2 2025, a 33% increase from the previous quarter[5] - The Aerospace Products segment achieved 81% year-over-year growth in Adjusted EBITDA, increasing market share to approximately 9% from 5% last year[6] - FTAI acquired 100% equity of Pacific Aerodynamic, enhancing its repair capabilities for CFM56 compressor blades and vanes[5] - The SCI Partnership is on track to deploy $4 billion of capital in 2025, with 145 aircraft now owned or under letter of intent compared to a target of 250[6] Expenses - The company incurred acquisition and transaction expenses of $4,489 in Q2 2025, down from $8,019 in Q2 2024, a decrease of 44.5%[22] - Acquisition and transaction expenses for Q2 2025 were $1.4 million, compared to $0.5 million in Q2 2024, indicating a 168.6% increase[26] - Provision for income taxes in Q2 2025 was $25.8 million, compared to $4.9 million in Q2 2024, reflecting a significant increase of 426.5%[26] - Depreciation and amortization expense for Q2 2025 was $3.7 million, up from $0.9 million in Q2 2024, marking a 295.5% increase[26]

Financial Performance - For the three months ended March 31, 2025, total revenues increased to $502.1 million, up 53.7% from $326.7 million in the same period of 2024 [150]. - Aerospace products revenue for the same period was $365.1 million, a significant increase of 93.1% compared to $189.1 million in 2024 [150]. - Adjusted EBITDA for the three months ended March 31, 2025, was $268.6 million, representing a 63.7% increase from $164.1 million in 2024 [152]. - Net income attributable to shareholders for the three months ended March 31, 2025, was $89.9 million, up 187.0% from $31.3 million in 2024 [150]. - Total revenues increased by $175.4 million, primarily driven by a $176.0 million increase in Aerospace products revenue [153]. - Net income increased by $62.8 million, reflecting the overall positive changes in revenue and expenses [155]. - Adjusted EBITDA increased by $104.5 million, indicating strong operational performance [156]. - Net income attributable to shareholders increased by $40.2 million, reaching $106.6 million for the three months ended March 31, 2025, compared to $66.4 million in 2024 [170]. - Adjusted EBITDA (non-GAAP) increased by $60.7 million to $130.9 million for the three months ended March 31, 2025, compared to $70.3 million in 2024 [174]. Asset Management - As of March 31, 2025, the company had total consolidated assets of $4.3 billion and total equity of $28.3 million [137]. - As of March 31, 2025, the Aviation Leasing segment owned and managed 425 aviation assets, including 107 commercial aircraft and 318 engines [159]. - The average remaining lease term for aircraft is 44 months, while engines currently on lease have an average remaining lease term of 24 months [160]. - The company launched a Strategic Capital Initiative on December 30, 2024, focusing on acquiring 737NG and A320ceo aircraft [144]. - The company launched a Strategic Capital Initiative to acquire 737NG and A320ceo aircraft, allowing for an asset-light business model [182]. Expenses and Income Tax - Total expenses increased by $117.4 million, with cost of sales rising by $105.9 million due to higher engine and module sales [153]. - Total expenses rose by $119.6 million, with cost of sales increasing by $117.8 million, primarily due to higher sales of CFM56-5B, CFM56-7B, and V2500 engines [175]. - The provision for income taxes increased by $17.3 million, driven by higher income generated in the Aircraft Leasing and Aerospace Products segments [154]. - The provision for income taxes increased by $16.8 million, primarily due to higher income from Aerospace Products activities [172]. Cash Flow and Investments - Cash used for investments was $339.4 million for the three months ended March 31, 2025, compared to $303.0 million in 2024 [185]. - Net cash used in operating activities increased by $25.6 million, totaling $(25,966) thousand in Q1 2025 compared to $(345) thousand in Q1 2024 [188]. - Net cash used in investing activities decreased by $141.6 million, totaling $(27,627) thousand in Q1 2025 compared to $(169,213) thousand in Q1 2024 [189]. - Net cash provided by financing activities decreased by $93.4 million, totaling $50,610 thousand in Q1 2025 compared to $144,026 thousand in Q1 2024 [190]. Impairment and Losses - The company recognized an impairment charge of $120.0 million for leasing equipment assets related to the impact of Russia's invasion of Ukraine [140]. - The insured value of aircraft and engines remaining in Russia is $210.7 million, with uncertain recovery timing [141]. - Net loss attributable to shareholders in the Corporate and Other segment was $86.8 million for the three months ended March 31, 2025, compared to $77.7 million in 2024 [176]. Interest and Debt - Interest expense increased by $14.3 million, reflecting an increase in average debt outstanding of approximately $955.7 million [178]. - As of March 31, 2025, the company had outstanding principal and interest payment obligations of $3.7 billion and $1.4 billion, respectively [191]. - A hypothetical 100-basis point increase in variable interest rates would result in an increase of approximately $2.0 million in interest expense over the next 12 months [202]. Lease Income - Lease income for the three months ended March 31, 2025, was $68.5 million, an increase of 28.6% from $53.2 million in 2024 [150]. - Lease income rose by $15.2 million, attributed to an increase in aircraft lease revenue of $11.6 million and engine lease revenue of $6.0 million [153].

Financial Performance - Net income attributable to shareholders for Q1 2025 was $89.9 million, compared to $31.3 million in Q1 2024, representing a significant increase of 187%[6] - Basic earnings per ordinary share for Q1 2025 was $0.88, up from $0.31 in Q1 2024, reflecting a growth of 184%[14] - Total revenues for Q1 2025 reached $502.1 million, a 54% increase from $326.7 million in Q1 2024[15] - Adjusted EBITDA for Q1 2025 was $268.6 million, with a margin of 36% for Aerospace Products, which generated $131 million[6] - Adjusted EBITDA for Q1 2025 reached $268,558,000, representing a 63.7% increase compared to $164,101,000 in Q1 2024[23] - In the Aerospace Products segment, net income attributable to shareholders for Q1 2025 was $106,643,000, up 60.5% from $66,433,000 in Q1 2024[26] - Adjusted EBITDA for Aerospace Products in Q1 2025 was $130,945,000, a 86.3% increase from $70,277,000 in Q1 2024[26] Assets and Liabilities - Total current assets increased to $1.87 billion as of March 31, 2025, compared to $1.23 billion at the end of 2024[18] - Long-term debt increased to $3.64 billion as of March 31, 2025, up from $3.44 billion at the end of 2024[18] - The company reported a total of $4.27 billion in assets as of March 31, 2025, compared to $4.04 billion at the end of 2024[18] Expenses - Provision for income taxes in Q1 2025 was $22,859,000, compared to $5,572,000 in Q1 2024, reflecting a change of $17,287,000[23] - Depreciation and amortization expense increased to $68,387,000 in Q1 2025 from $59,122,000 in Q1 2024, a rise of $9,265,000[23] - Equity-based compensation expense rose to $4,889,000 in Q1 2025, compared to $510,000 in Q1 2024, indicating an increase of $4,379,000[23] - Interest expense and dividends on preferred shares increased to $68,155,000 in Q1 2025 from $56,042,000 in Q1 2024, an increase of $12,113,000[23] - Acquisition and transaction expenses for Q1 2025 were $7,292,000, up from $6,179,000 in Q1 2024, reflecting a change of $1,113,000[23] Market Demand and Operations - FTAI's Module Factory has over 100 customers worldwide, indicating strong market demand[6] - As of March 31, 2025, FTAI owned or had letters of intent for 98 aircraft under its Strategic Capital Initiative 2025 partnership[6] Dividends - The company declared a cash dividend of $0.30 per ordinary share for the quarter ended March 31, 2025[3] Other Financial Metrics - The pro-rata share of Adjusted EBITDA from unconsolidated entities improved to $41,000 in Q1 2025 from a loss of $548,000 in Q1 2024, a change of $589,000[23]

Financial Performance - Total revenues increased by $564.0 million, reaching $1,734.9 million in 2024, driven primarily by a $624.9 million increase in aerospace products revenue[195]. - Net income from continuing operations decreased by $235.1 million, resulting in a net income of $8.7 million in 2024[198]. - Adjusted EBITDA increased by $264.8 million, reaching $862.1 million in 2024, reflecting improved operational performance[199]. - Total expenses increased by $665.9 million, totaling $1,497.1 million in 2024, primarily due to higher costs associated with sales and operations[197]. - Net income attributable to shareholders decreased by $81.4 million to $210.2 million in 2024, compared to $291.6 million in 2023[215]. - Net income from continuing operations increased by $354.4 million, reflecting improved operational performance[204]. - Adjusted EBITDA increased by $169.2 million, indicating stronger earnings before interest, taxes, depreciation, and amortization[206]. - Total revenues decreased by $53.2 million, primarily due to a $111.0 million decrease in asset sales revenue, with three aircraft and 14 engines sold in 2024 compared to 13 aircraft and 41 engines in 2023[212]. - Net loss attributable to shareholders from continuing operations was $588.7 million in 2024, compared to a loss of $259.8 million in 2023[237]. - Adjusted EBITDA for the corporate segment was $(18.6) million in 2024, an improvement from $(30.1) million in 2023[237]. Revenue Breakdown - Aerospace products revenue growth was mainly due to a $546.0 million increase in sales of CFM56-7B, CFM56-5B, and V2500 engines and modules[195]. - Aerospace products revenue surged to $1.08 billion in 2024, a significant increase from $455.0 million in 2023[222]. - Total Aerospace products revenue increased by $624.9 million in 2024, driven by a $546.0 million increase in engine and module sales[225]. - Lease income rose by $47.4 million, attributed to a $37.3 million increase in engine lease revenue and a $17.5 million increase in aircraft lease revenue[195]. - Maintenance revenue increased by $9.5 million, driven by a $43.2 million rise in engine maintenance revenue[195]. - Lease income in the Aviation Leasing segment rose to $234.4 million, up from $179.7 million in 2023[210]. - Other revenue decreased by $6.7 million, primarily due to a reduction in end-of-lease redelivery compensation[196]. Expenses and Costs - Total expenses increased by $206.7 million, with cost of sales rising by $253.7 million, primarily in the Aerospace Products segment[201]. - Total expenses in the Aerospace Products segment rose to $709.3 million in 2024, up from $303.1 million in 2023[222]. - Acquisition and transaction expenses increased by $5.2 million, driven by higher costs associated with the acquisition of aviation leasing equipment[223]. - Total expenses increased by $406.1 million in 2024, with a significant rise in cost of sales by $393.6 million[226]. - Cost of sales for Aerospace products increased by $393.6 million, correlating with the revenue growth in the same segment[229]. - Acquisition and transaction expenses rose by $3.2 million in 2024, mainly due to higher professional fees for strategic transactions[229]. Asset Management - As of December 31, 2024, the company had total consolidated assets of $4.0 billion and total equity of $81.4 million[175]. - The Aviation Leasing segment owns and manages aviation assets, while the Aerospace Products segment develops and manufactures aircraft engines and components[186]. - As of December 31, 2024, the Aviation Leasing segment owned and managed 421 aviation assets, including 109 commercial aircraft and 312 engines[207]. - The company launched a Strategic Capital Initiative on December 30, 2024, focusing on acquiring 737NG and A320ceo aircraft, maintaining an asset-light business model[185]. - The company expects to provide aircraft management services and make minority investments in future partnerships under the Strategic Capital Initiative[185]. - The insured value of aircraft and engines remaining in Russia is $210.7 million, with uncertain timing and amount of recoveries under insurance policies[179]. - Asset sales revenue decreased by $111.0 million, with three aircraft and 14 engines sold in 2024 compared to 13 aircraft and 41 engines in 2023[195]. - Asset sales revenue increased by $119.6 million, with 13 aircraft and 41 engines sold in 2023 compared to eight aircraft and 71 engines sold in 2022[202]. Tax and Interest - The provision for income taxes increased by $65.3 million, reflecting higher tax obligations due to increased income from leasing and aerospace activities[197]. - The provision for income taxes increased by $69.2 million, reflecting higher tax obligations due to increased income from leasing activities[214]. - The company established a deferred tax asset of $72.2 million due to a tax law change in Bermuda, contributing to a $65.1 million increase in the benefit from income taxes[203]. - Interest expense increased by $60.1 million, reflecting an increase in average debt outstanding of approximately $779.3 million[200]. - Interest rate risk is present due to variable interest rate agreements, with potential increases in interest rates impacting net income without corresponding increases in cash flow[281]. - A hypothetical 100-basis point increase or decrease in variable interest rates would not have affected interest expense over the next 12 months[284]. Cash Flow and Financing - Cash used for investments was $1,526.2 million in 2024, compared to $861.5 million in 2023[252]. - Proceeds from the sale of assets were $969.3 million in 2024, up from $477.9 million in 2023[260]. - Cash flow from operating activities decreased by $316.9 million, reflecting a decrease in net income and changes in working capital[259]. - Net cash provided by financing activities increased by $399.6 million, primarily due to proceeds from debt of $1,630.2 million and maintenance deposits of $19.0 million[261]. - Outstanding principal and interest payment obligations as of December 31, 2024, total $3.5 billion and $1.4 billion, respectively, with $229.8 million due in the next twelve months[264]. - Cash dividends declared during 2024 amounted to $121.6 million on ordinary shares and $32.8 million on preferred shares[266]. - The company expects to meet future short-term liquidity requirements through cash on hand, unused borrowing capacity, and net cash from current operations[267]. - On October 9, 2024, the company issued $500.0 million in senior unsecured notes due 2033, using proceeds to redeem $130.5 million of Senior Notes due 2027[250]. Management and Internalization - The company internalized its management function on May 28, 2024, eliminating management fees to the Former Manager[176]. - The company entered into a Transition Services Agreement with the Former Manager, requiring services until October 31, 2024, with a fee structure based on costs plus a 10% markup[177]. - The company internalized its management functions on May 28, 2024, resulting in a one-time payment of $150.0 million to the former manager[247].

Financial Performance - FTAI reported a net income attributable to shareholders of $86.692 million for Q4 2024, a decrease from $110.025 million in Q4 2023, representing a decline of 21.2% year-over-year[22]. - The company achieved total revenues of $498.819 million in Q4 2024, up 59.5% from $312.737 million in Q4 2023[22]. - Adjusted EBITDA for Q4 2024 was $252.015 million, reflecting strong operational performance[2]. - FTAI's Aerospace Products segment saw a net income of $346 million for fiscal year 2024, up 92% year-over-year, with Adjusted EBITDA increasing by 138%[7]. - Adjusted EBITDA for the year ended December 31, 2024, was $862,050, representing a 44% increase from $597,282 in 2023[27]. - Adjusted EBITDA for Aerospace Products was $380,636 for the year ended December 31, 2024, compared to $160,009 in 2023, marking a 138% increase[31]. Dividends and Shareholder Returns - The company declared a cash dividend of $0.30 per ordinary share for Q4 2024, payable on March 24, 2025[3]. Future Guidance - FTAI expects 2025 Adjusted EBITDA to be approximately $1.1 to $1.15 billion, with $500 million from Aviation Leasing and $600 to $650 million from Aerospace Products[11]. - FTAI is increasing its 2026 Adjusted EBITDA guidance from $1.25 billion to approximately $1.4 billion, reflecting expected growth from the Strategic Capital Initiative[12]. Operational Costs and Expenses - The company reported total expenses of $340.610 million for Q4 2024, compared to $224.876 million in Q4 2023, indicating a significant increase in operational costs[22]. Balance Sheet and Assets - Total assets increased to $4,037,952, up 36% from $2,964,685 in 2023[24]. - Total current assets rose to $1,226,018, a 83% increase from $671,434 in 2023[24]. - Cash and cash equivalents increased to $115,116, up 27% from $90,756 in 2023[24]. - Inventory increased significantly to $551,156, a 74% rise from $316,637 in 2023[24]. Liabilities and Equity - Long-term debt increased to $3,440,478, up 37% from $2,517,343 in 2023[24]. - Total liabilities rose to $3,956,584, an increase of 42% from $2,788,802 in 2023[24]. - Shareholders' equity decreased to $81,368, down 54% from $175,349 in 2023[24]. Share Information - FTAI's weighted average shares outstanding for Q4 2024 were 102,549,890 for basic shares and 103,603,350 for diluted shares[22]. Joint Ventures and Capacity Expansion - The joint venture with IAG Engine Center is expected to add maintenance capacity for 450 modules (150 engines) per year, increasing FTAI's total maintenance capacity to 1,800 modules (600 engines)[8].

Financial Performance - Lease income for the three months ended September 30, 2024, was $65.45 million, an increase of 43.5% from $45.62 million in the same period of 2023[158]. - Aerospace products revenue surged to $303.47 million for the three months ended September 30, 2024, compared to $118.68 million in 2023, reflecting a growth of 155.6%[158]. - Total revenues for the nine months ended September 30, 2024, reached $1.236 billion, up 44% from $858.16 million in 2023[158]. - Net income attributable to shareholders for the three months ended September 30, 2024, was $78.15 million, a significant increase from $32.97 million in 2023[158]. - Net income attributable to shareholders increased by $45.2 million for the three months ended September 30, 2024, and decreased by $219.2 million for the nine months ended September 30, 2024 compared to the prior year[164]. - Total revenues increased by $174.7 million for the three months ended September 30, 2024, driven by a $184.8 million increase in aerospace products revenue[160]. - Adjusted EBITDA increased by $77.8 million for the three months ended September 30, 2024, and by $175.1 million for the nine months ended September 30, 2024[165]. - Aerospace products revenue increased by $441.2 million for the nine months ended September 30, 2024, primarily due to a $387.2 million increase in engine and module sales[161]. - Net income attributable to shareholders increased by $52.5 million (approximately 127.0%) for the three months ended September 30, 2024, compared to the same period in 2023[183]. - Adjusted EBITDA increased by $58.5 million (approximately 135.2%) for the three months ended September 30, 2024, compared to the prior year[184]. Expenses and Costs - Total expenses for the three months ended September 30, 2024, were $316.52 million, an increase of 53.4% from $206.41 million in 2023[158]. - Total expenses increased by $110.1 million for the three months ended September 30, 2024, with a significant increase in costs associated with aerospace products[161]. - Total expenses increased by $128.5 million (approximately 168.3%) for the three months ended September 30, 2024, largely due to a $128.6 million rise in cost of sales[181]. - Depreciation and amortization expense increased by $11.3 million in Q3 2024, driven by a higher number of assets owned and on lease[171]. - Acquisition and transaction expenses increased by $13.3 million, primarily due to higher professional fees related to strategic transactions[166]. - Acquisition and transaction expenses rose by $2.4 million, primarily due to increased legal fees related to strategic transactions[171]. - Interest expense increased by $17.8 million, reflecting an increase in average debt outstanding of approximately $913.0 million[166]. - The provision for income taxes increased by $3.6 million during the three months ended September 30, 2024, primarily due to increased income from leasing and aerospace activities[162]. - The provision for income taxes rose by $3.3 million (approximately 291.2%) for the three months ended September 30, 2024, due to increased income from aerospace activities[182]. Asset Management - Total consolidated assets as of September 30, 2024, were $3.7 billion, with total equity of $118.5 million[148]. - The company owns and manages 393 aviation assets, including 96 commercial aircraft and 297 engines, as of September 30, 2024[167]. - As of September 30, 2024, the company had 86 commercial aircraft and 184 engines leased, with an aviation equipment utilization rate of approximately 79%[168]. - The insured value of aircraft and engines remaining in Russia is approximately $210.7 million, with uncertain recovery timing[152]. - The company acquired LMCES in September 2024 and QuickTurn in December 2023 to enhance its aerospace products segment and establish permanent manufacturing capabilities[176]. - The company holds a 25% interest in the Advanced Engine Repair JV, focusing on developing cost-saving programs for engine repairs[176]. Cash Flow and Liquidity - Cash used for investments was $1.0 billion in the nine months ended September 30, 2024, compared to $562.8 million in the same period of 2023[1]. - Net cash used in operating activities increased by $262.9 million, reflecting a net loss of $219.2 million and adjustments including a gain on sale of assets of $133.8 million[1]. - Net cash used in investing activities rose by $251.6 million, primarily due to business acquisitions totaling $143.6 million and deposits for aircraft acquisitions of $152.2 million[2]. - Net cash provided by financing activities increased by $535.9 million, driven by $1.6 billion in proceeds from debt[3]. - The company has sufficient liquidity to meet cash needs and is taking actions to preserve adequate liquidity[195]. - Principal sources of liquidity include revenues from aviation assets, proceeds from borrowings, and asset sales[197]. - The company expects to meet future short-term liquidity requirements through cash on hand and unused borrowing capacity[4]. - A hypothetical 100-basis point increase in variable interest rates would result in an increase of approximately $1.5 million in interest expense over the next 12 months[4]. - Distributions to shareholders, including cash dividends, increased to $115.8 million in 2024 from $113.2 million in 2023[1]. Impairments and Charges - The company recognized an impairment charge of $120 million due to the impact of sanctions related to Russia's invasion of Ukraine[151]. - Net loss increased by $11.4 million in Q3 2024 and $333.8 million for the nine months, primarily due to the changes noted above[193]. - The Internalization fee to affiliate increased by $300.0 million, which is expected to lead to savings in operational costs[190].

Financial Performance - FTAI Aviation Ltd. reported a net income attributable to shareholders of $78,147,000 for Q3 2024, compared to $32,973,000 in Q3 2023, representing a 137% increase year-over-year[2] - Total revenues for Q3 2024 were $465,794,000, a 60% increase from $291,096,000 in Q3 2023[14] - Aerospace products revenue surged to $303,469,000 in Q3 2024, compared to $118,675,000 in Q3 2023, reflecting a 156% increase[14] - Net income attributable to shareholders for Q3 2024 was $78,147, compared to $32,973 in Q3 2023, representing a change of $45,174[19] - For the nine months ended September 30, 2024, net income was $(118,771), a decrease of $220,768 compared to $101,997 in the same period of 2023[19] Adjusted EBITDA - The company achieved an Adjusted EBITDA of $232,030,000 in Q3 2024, with over $100 million generated from Aerospace Products[6][2] - Adjusted EBITDA for Q3 2024 was $232,030, an increase of $77,812 from $154,218 in Q3 2023[19] - Nine-month Adjusted EBITDA rose to $610,035, up $175,084 from $434,951 in the prior year[19] Asset and Liability Management - FTAI's total assets increased to $3,738,910,000 as of September 30, 2024, up from $2,964,685,000 at the end of 2023[16] - The company's total liabilities rose to $3,620,378,000 as of September 30, 2024, compared to $2,788,802,000 at the end of 2023[16] - Cash and cash equivalents increased to $111,888,000 as of September 30, 2024, from $90,756,000 at the end of 2023[16] - FTAI's accumulated deficit grew to $(175,551,000) as of September 30, 2024, compared to $(81,785,000) at the end of 2023[16] Income and Expense Analysis - Lease income increased to $65,450,000 in Q3 2024, up from $45,622,000 in Q3 2023, marking a 43% growth[14] - Depreciation and amortization expense for Q3 2024 was $69,453, an increase of $10,073 from $59,380 in Q3 2023[19] - Interest expense and dividends on preferred shares for Q3 2024 totaled $66,272, up $17,753 from $48,519 in Q3 2023[19] - Acquisition and transaction expenses for Q3 2024 were $9,341, an increase of $5,080 from $4,261 in Q3 2023[19] - Equity-based compensation expense for Q3 2024 was $1,430, compared to $510 in Q3 2023, reflecting an increase of $920[19] - Asset impairment charges for Q3 2024 were $962, down $258 from $1,220 in Q3 2023[19] Dividends - The company declared a cash dividend of $0.30 per ordinary share for the quarter ended September 30, 2024[3]

Financial Performance - For the three months ended June 30, 2024, total revenues increased by $169.2 million, reaching $443.6 million, compared to $274.3 million in the same period of 2023, representing a 61.6% increase [147]. - Net loss attributable to shareholders for the three months ended June 30, 2024, was $228.2 million, compared to a profit of $46.4 million in the same period of 2023 [147]. - Total revenues increased by $169.2 million for the three months ended June 30, 2024, primarily due to a $152.5 million increase in Aerospace products revenue [150]. - Net income attributable to shareholders decreased by $19.8 million to $52.8 million for the three months ended June 30, 2024 [183]. - The company reported a net loss attributable to shareholders of $365.9 million for the six months ended June 30, 2024, compared to a loss of $119.7 million in the same period of 2023 [198]. - Net loss attributable to shareholders increased by $306.4 million to $(365.9) million for the three months ended June 30, 2024, compared to $(59.4) million in 2023 [207]. Revenue Breakdown - Aerospace products revenue surged by 164.5% to $245.2 million, compared to $92.7 million in the prior year [147]. - Lease income for the same period rose to $70.8 million, an increase of 18.8% from $59.5 million in 2023 [147]. - Lease income rose by $11.2 million due to an increase in the number of engines placed on lease, while Maintenance revenue increased by $9.1 million [151]. - Aerospace products revenue increased by $256.4 million for the six months ended June 30, 2024, driven by sales of CFM56-7B, CFM56-5B, and V2500 engines [154]. - Total revenues for the three months ended June 30, 2024, increased by $17.1 million to $184.4 million, driven by increases in Lease income and Maintenance revenue [176]. - Total revenues for the six months ended June 30, 2024, decreased by $46.7 million to $319.7 million, primarily due to a decline in Asset sales revenue [177]. Expenses and Losses - Total expenses increased by $443.6 million for the three months ended June 30, 2024, mainly driven by a $300 million increase in the internalization fee to affiliate [157]. - Total expenses for the three months ended June 30, 2024, increased by $28.3 million to $122.4 million, mainly due to higher Depreciation and amortization, Cost of sales, and Operating expenses [179]. - Total expenses increased by $319.1 million for the three months ended June 30, 2024, primarily due to higher internalization fees, interest expenses, and acquisition expenses [201]. - Total other expense increased by $15.1 million during the three months ended June 30, 2024, primarily due to a $13.9 million increase in the loss on extinguishment of debt [168]. - Total expenses rose by $96.2 million (approximately 164.2%) and $157.9 million (approximately 135.7%) for the three and six months ended June 30, 2024, primarily due to increased costs of sales and operating expenses [190][191]. Adjusted EBITDA - Adjusted EBITDA is utilized as a key performance measure, providing insights into operational performance [145]. - Adjusted EBITDA increased by $60.8 million for the three months ended June 30, 2024, reaching $213.9 million [171]. - Adjusted EBITDA for the three months ended June 30, 2024, increased by $3.8 million to $125.0 million [184]. - Adjusted EBITDA decreased by $3.2 million to $(13.3) million for the six months ended June 30, 2024, compared to $(10.1) million in 2023 [208]. - Adjusted EBITDA increased by $56.5 million (approximately 162.5%) and $99.4 million (approximately 159.9%) for the three and six months ended June 30, 2024, respectively [195]. Asset Management - Total consolidated assets as of June 30, 2024, were $3.4 billion, with total equity of $69.6 million [137]. - As of June 30, 2024, the Aviation Leasing segment owned and managed 391 aviation assets, including 99 commercial aircraft and 292 engines [172]. - The utilization rate of aviation equipment was approximately 81% during the six months ended June 30, 2024 [173]. - The internalization of management function resulted in a one-time fee of $300 million [138]. Impairments and Charges - The company recognized an impairment charge of $120 million due to the inability to recover aircraft and engines from Russia and Ukraine [140]. - Transition Services Agreement costs incurred during the three and six months ended June 30, 2024, amounted to $3.4 million, reported under Acquisition and transaction expenses [139]. Financing and Cash Flow - Cash used in operating activities increased by $254.9 million to $(187.6) million for the six months ended June 30, 2024, primarily due to an increase in net loss and adjustments [216]. - Net cash provided by financing activities increased by $483.1 million, primarily due to proceeds from debt of $1.5 billion [218]. - As of June 30, 2024, the company had outstanding principal and interest payment obligations of $3.1 billion and $1.3 billion, respectively [219]. Interest Rate Risk - The company is exposed to interest rate risk, which may affect net income due to increased borrowing costs without corresponding increases in rents or cash flow from leases [226]. - The company amended its revolving credit facility to incorporate SOFR as the successor rate to LIBOR in anticipation of LIBOR's phase-out [227]. - The company may manage its exposure to interest rate movements through the use of interest rate derivatives such as swaps and caps [228]. - The sensitivity analysis indicates that changes in interest rates could have limited use as a benchmark for forecasting financial impacts [229].