FTAI Aviation closes the Sale and Leaseback of 9 of 19 Aircraft with Avianca

Rhea-AI Summary

FTAI Aviation has successfully closed the first nine of nineteen aircraft under a sale and leaseback agreement with Avianca. This transaction aims to lower Avianca's total cost of ownership as part of their new business model. The remaining aircraft are expected to close by February 2022. Both companies express confidence in their partnership, highlighting FTAI’s flexible leasing strategy.

Positive

• Successful closure of nine aircraft in sale and leaseback deal with Avianca.
• Expected closure of remaining aircraft by February 2022 strengthens cash flow.
• FTAI's differentiated leasing approach lowers Avianca's total cost of ownership.

Negative

• None.

NEW YORK, Dec. 27, 2021 (GLOBE NEWSWIRE) -- FTAI Aviation, a wholly owned subsidiary of Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) is pleased to announce the closing of the first 9 of 19 aircraft under a sale and leaseback transaction with Aerovías del Continente Americano S.A. Avianca (“Avianca”). The remaining aircraft are expected to close subject to customary closing requirements by the end of February 2022.

“We are excited to partner with Avianca once again,” said Joe Adams, FTAI’s Chairman and Chief Executive Officer. “Our differentiated approach to aircraft leasing provides Avianca with a lower total cost of ownership.”

“FTAI has become one of our most trusted partners,” said Francisco Raddatz, Vice President of Fleet at Avianca. “FTAI’s unique and flexible strategy is essential to our new business model.” 

About Fortress Transportation and Infrastructure Investors LLC

Fortress Transportation and Infrastructure Investors LLC owns and acquires high quality infrastructure and equipment that is essential for the transportation of goods and people globally. FTAI targets assets that, on a combined basis, generate strong and stable cash flows with the potential for earnings growth and asset appreciation. FTAI is externally managed by an affiliate of Fortress Investment Group LLC, a leading, diversified global investment firm.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, statements regarding leases and transactions which have not yet closed, and any expected financing in connection with such leases and transactions. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond the Company’s control. The Company can give no assurance that its expectations will be attained, and such differences may be material. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available on the Company’s website (www.ftandi.com). In addition, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. This release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.

For further information, please contact:

Alan Andreini
Investor Relations
Fortress Transportation and Infrastructure Investors LLC
(212) 798-6128
aandreini@fortress.com

FAQ

What is the recent aircraft deal involving FTAI and Avianca?

FTAI Aviation has closed a sale and leaseback transaction for nine aircraft with Avianca, with the remaining aircraft expected to close by February 2022.

How does the FTAI and Avianca partnership benefit Avianca?

The partnership allows Avianca to lower its total cost of ownership through FTAI's differentiated approach to aircraft leasing.

When will the remaining aircraft in the FTAI transaction close?

The remaining aircraft are expected to close by the end of February 2022.

What does FTAI focus on in its business strategy?

FTAI targets high-quality infrastructure and equipment that generates strong cash flows with potential for earnings growth.