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. 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.
FTAI Aviation ha annunciato la vendita dei suoi restanti veicoli offshore per l'energia, il Pioneer e il Pride, per un valore di circa 143 milioni di dollari. L'azienda sta rafforzando la sua attenzione sul proprio core business, ovvero la fornitura di energia per il mercato aftermarket dei motori CFM56 e V2500, che rappresentano i due più grandi programmi di motori commerciali.
FTAI Aviation ha anunciado la venta de sus restantes embarcaciones de energía offshore, el Pioneer y el Pride, por aproximadamente 143 millones de dólares. La empresa está fortaleciendo su enfoque en su negocio principal de suministro de energía para el mercado de reposición de los motores CFM56 y V2500, que son los dos programas de motores comerciales más grandes.
FTAI 항공은 남은 해양 에너지 선박인 Pioneer와 Pride를 약 1억 4천 3백만 달러에 판매한다고 발표했습니다. 이 회사는 CFM56과 V2500의 애프터마켓에 대한 전력 제공이라는 핵심 비즈니스에 더 집중하고 있습니다. 이 두 프로그램은 상업용 엔진 프로그램 중 가장 큰 두 가지를 차지합니다.
FTAI Aviation a annoncé la vente de ses derniers navires d'énergie offshore, le Pioneer et le Pride, pour environ 143 millions de dollars. L'entreprise renforce son attention sur son cœur de métier, qui est de fournir de l'énergie pour le marché secondaire des moteurs CFM56 et V2500, représentant les deux plus grands programmes de moteurs commerciaux.
FTAI Aviation hat den Verkauf seiner verbleibenden Offshore-Energieschiffe, dem Pioneer und dem Pride, für etwa 143 Millionen Dollar angekündigt. Das Unternehmen verstärkt seinen Fokus auf sein Kerngeschäft, die Bereitstellung von Energie für den Aftermarket der CFM56 und V2500, die die beiden größten Programme für kommerzielle Triebwerke darstellen.
- Sale of offshore vessels generates $143 million in proceeds
- Strategic focus on core aviation aftermarket business
- Divestment of non-core assets streamlines operations
- None.
Insights
The
This transaction will bolster FTAI's balance sheet and provide additional capital to invest in its aviation aftermarket business, which typically generates higher margins and more stable recurring revenue compared to the offshore vessel segment. The timing is particularly strategic as the aviation maintenance market is experiencing strong growth due to increased air travel and aging aircraft fleets requiring more frequent engine maintenance.
The company's focus on the CFM56 and V2500 programs positions it well in the commercial aviation aftermarket, as these engine types will remain in service for many years to come, creating a sustained demand for maintenance, repair and overhaul services.
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
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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
FAQ
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