FTAI Aviation Audit Committee Completes Independent Review, Expects to File 10-K Timely
FTAI Aviation announced that its Board of Directors' Audit Committee has completed an independent review of allegations made in short seller reports from January 2025. The review, conducted by independent legal and forensic accounting advisors, concluded that the allegations against the company were unsupported and without merit.
The Audit Committee Chair, Paul R. Goodwin, emphasized their commitment to maintaining high standards of corporate governance, internal compliance, and financial reporting controls. The company expects to file its Form 10-K on schedule and will announce its Q4 and full-year 2024 financial results after Nasdaq's closing on February 26, 2025, followed by a conference call on February 27, 2025.
FTAI Aviation ha annunciato che il Comitato di Audit del Consiglio di Amministrazione ha completato una revisione indipendente delle accuse contenute nei rapporti dei venditori allo scoperto risalenti a gennaio 2025. La revisione, condotta da esperti legali e contabili forensi indipendenti, ha concluso che le accuse contro la società non erano supportate da prove e prive di fondamento.
Il Presidente del Comitato di Audit, Paul R. Goodwin, ha sottolineato il loro impegno a mantenere elevati standard di governance aziendale, conformità interna e controlli sulla reportistica finanziaria. L'azienda prevede di presentare il suo Modulo 10-K secondo i tempi previsti e annuncerà i suoi risultati finanziari del quarto trimestre e dell'intero anno 2024 dopo la chiusura di Nasdaq il 26 febbraio 2025, seguito da una conferenza telefonica il 27 febbraio 2025.
FTAI Aviation anunció que el Comité de Auditoría de su Junta Directiva ha completado una revisión independiente de las acusaciones realizadas en informes de vendedores en corto de enero de 2025. La revisión, realizada por asesores legales y contables forenses independientes, concluyó que las acusaciones contra la empresa no estaban fundamentadas y carecían de mérito.
El Presidente del Comité de Auditoría, Paul R. Goodwin, enfatizó su compromiso de mantener altos estándares de gobernanza corporativa, cumplimiento interno y controles de informes financieros. La empresa espera presentar su Formulario 10-K según lo programado y anunciará sus resultados financieros del cuarto trimestre y del año completo 2024 después del cierre de Nasdaq el 26 de febrero de 2025, seguido de una conferencia telefónica el 27 de febrero de 2025.
FTAI 항공은 이사회의 감사위원회가 2025년 1월의 공매도 보고서에서 제기된 주장에 대한 독립적인 검토를 완료했다고 발표했습니다. 독립적인 법률 및 법의학 회계 자문가들이 수행한 이 검토는 회사에 대한 주장이 근거가 없고 무의미하다는 결론을 내렸습니다.
감사위원회 의장인 Paul R. Goodwin은 기업 거버넌스, 내부 준수 및 재무 보고 통제의 높은 기준을 유지하겠다는 의지를 강조했습니다. 회사는 예정대로 10-K 양식을 제출할 예정이며, 2025년 2월 26일 나스닥 마감 후 2024년 4분기 및 전체 연도 재무 결과를 발표하고, 2025년 2월 27일에 전화 회의가 있을 것입니다.
FTAI Aviation a annoncé que le comité d'audit de son conseil d'administration a terminé un examen indépendant des allégations formulées dans les rapports des vendeurs à découvert de janvier 2025. L'examen, mené par des conseillers juridiques et comptables judiciaires indépendants, a conclu que les allégations contre l'entreprise étaient infondées et sans mérite.
Le président du comité d'audit, Paul R. Goodwin, a souligné leur engagement à maintenir des normes élevées de gouvernance d'entreprise, de conformité interne et de contrôles de reporting financier. L'entreprise prévoit de déposer son formulaire 10-K comme prévu et annoncera ses résultats financiers du quatrième trimestre et de l'année complète 2024 après la fermeture de Nasdaq le 26 février 2025, suivi d'une conférence téléphonique le 27 février 2025.
FTAI Aviation gab bekannt, dass der Prüfungsausschuss des Vorstands eine unabhängige Überprüfung der im Januar 2025 in Berichten von Leerverkäufern erhobenen Vorwürfe abgeschlossen hat. Die Überprüfung, die von unabhängigen rechtlichen und forensischen Buchhaltungsberatern durchgeführt wurde, kam zu dem Schluss, dass die Vorwürfe gegen das Unternehmen unbegründet und nicht haltbar waren.
Der Vorsitzende des Prüfungsausschusses, Paul R. Goodwin, betonte das Engagement des Unternehmens, hohe Standards in der Unternehmensführung, interne Compliance und Finanzberichterstattungskontrollen aufrechtzuerhalten. Das Unternehmen plant, sein Formular 10-K planmäßig einzureichen und wird seine Finanzergebnisse für das vierte Quartal und das gesamte Jahr 2024 nach dem Börsenschluss am 26. Februar 2025 bekannt geben, gefolgt von einer Telefonkonferenz am 27. Februar 2025.
- Independent review found short seller allegations to be without merit
- Company confirms timely filing of Form 10-K
- Maintains strong corporate governance and internal controls
- None.
Insights
The completion of FTAI Aviation's independent review marks a decisive victory for the company's credibility in the financial markets. The involvement of both independent legal counsel and forensic accounting experts in thoroughly dismissing the short seller allegations carries substantial weight, as these professionals stake their reputations on their findings. The timing of this announcement, strategically positioned before the Q4 earnings release, demonstrates strong corporate governance and proactive risk management.
The confirmation of timely 10-K filing is particularly significant as it indicates that the review process, despite its thoroughness, did not uncover any issues requiring financial restatements or delayed reporting. This efficiency in completing the review while maintaining regular filing schedules speaks to the robustness of FTAI's internal controls and financial reporting systems.
The market implications are multifaceted:
- Short sellers who based their positions on these allegations may face significant pressure to cover their positions
- The company's debt holders and potential financiers receive strong assurance about FTAI's financial integrity
- Institutional investors get independent verification of the company's governance standards
Looking ahead, this development strengthens FTAI's position in the aviation finance sector, where trust and financial stability are paramount. The thorough nature of the review, combined with the Audit Committee's strong statement, effectively addresses concerns about corporate governance and financial reporting integrity, which are important factors for long-term institutional investment decisions.
NEW YORK, Feb. 20, 2025 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI) (“FTAI” or the “Company”) today announced that the Board of Directors’ Audit Committee has completed its review, conducted by independent legal and forensic accounting advisors, into assertions made by certain short seller reports in January 2025 and determined that the allegations made against the Company are without merit. The Company expects to file its Form 10-K timely.
Paul R. Goodwin, Chair of the Audit Committee, commented, “After a thorough and comprehensive review with the support of our independent legal and forensic accounting advisors, we have determined that the assertions made in the short seller reports are unsupported and have no merit. The Audit Committee and full Board continue to take seriously our responsibility to FTAI shareholders to maintain high standards of corporate governance and internal compliance and financial reporting controls, as well as transparent and timely disclosure.”
Fourth Quarter and Full Year 2024 Earnings
As previously disclosed, the Company plans to announce its financial results for the fourth quarter and full year 2024 after the closing of Nasdaq on Wednesday, February 26, 2025. Management will host a conference call on Thursday, February 27, 2025 at 8:00 A.M. Eastern Time. The conference call may be accessed by registering via the following link
https://register.vevent.com/register/BId401ec69ff8f491fb21444c5bbd87f54/. Once registered, participants will receive a dial-in and unique pin to access the call. A simultaneous webcast of the conference call will be available to the public on a listen-only basis at https://www.ftaiaviation.com/.
ABOUT FTAI AVIATION
FTAI owns and maintains commercial jet engines with a focus on CFM56 and V2500 engines. FTAI’s propriety portfolio of products, including the Module Factory and a joint venture to manufacture engine PMA, enables it to provide cost savings and flexibility to our airline, lessor, and maintenance, repair, and operations customer base. Additionally, FTAI owns and leases jet aircraft which often facilitates the acquisition of engines at attractive prices. FTAI invests in aviation assets and aerospace products that generate strong and stable cash flows with the potential for earnings growth and asset appreciation.
FORWARD-LOOKING STATEMENTS
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements relating to the timing of the filing of the Company’s Annual Report Form 10-K. Forward-looking statements are not statements of historical fact but instead are based on the Company’s present beliefs and assumptions and on information currently available to the Company. 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 the Company’s historical performance and on its current plans, estimates and expectations in light of information currently available to the Company. The inclusion of this forward-looking information should not be regarded as a representation by the Company that the future plans, estimates or expectations contemplated by the Company will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions relating to the Company’s operations, financial results, financial condition, business, prospects, growth strategy and liquidity. Accordingly, there are or will be important factors that could cause the Company’s 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 the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and the Company’s Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2024, June 30, 2024, and September 30, 2024, as updated by annual, quarterly and other reports the Company files with the Securities and Exchange Commission.
Contacts
Alan Andreini
Investor Relations
FTAI Aviation Ltd.
(646) 734-9414
aandreini@ftaiaviation.com
Media
Tim Lynch / Aaron Palash / Kelly Sullivan
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
FAQ
What did FTAI Aviation's independent audit review conclude about the short seller allegations?
When will FTAI release its Q4 and full-year 2024 earnings report?
Will FTAI file its Form 10-K on time following the audit review?
When is FTAI's Q4 2024 earnings conference call scheduled?
