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FTAI Aviation Ltd. (NASDAQ: FTAI) is a leading aerospace company specializing in the ownership and maintenance of commercial jet engines, with a particular focus on CFM56 and V2500 engines. FTAI's proprietary portfolio, including The Module Factory and a joint venture for manufacturing engine PMA (Parts Manufacturer Approval), allows the company to provide significant cost savings and flexibility to its airline, lessor, and maintenance, repair, and operations (MRO) customers. The company also invests in aviation assets and aerospace products that offer strong and stable cash flows along with potential for earnings growth and asset appreciation.
Core Business Segments
- Aviation Leasing: FTAI’s aviation leasing segment focuses on leasing aircraft and aircraft engines. As of December 31, 2019, this segment managed 238 assets, comprising 74 aircraft and 164 commercial engines. The leasing operations facilitate the acquisition of engines at attractive prices, bolstering the company's strategic asset management.
- Jefferson Terminal: The Jefferson Terminal segment is involved in developing a multi-modal crude oil and refined products handling terminal at the Port of Beaumont, Texas. This segment also owns assets crucial to the transportation and processing of crude oil and related products.
- Ports and Terminals: This segment operates significant port assets, including Repauno, a 1,630-acre deep-water port along the Delaware River, and Long Ridge, a 1,660-acre multi-modal port along the Ohio River.
Business Strategy and Financial Performance
FTAI Aviation Ltd. focuses on generating strong and stable cash flows through its diversified aviation assets and strategic investments. The company's proprietary products and strategic joint ventures ensure cost efficiency and operational flexibility for its clients, fostering long-term relationships and recurring revenue streams.
Recent Achievements and Developments
FTAI Aviation Ltd. recently announced the commencement of a public offering of 2,090,561 ordinary shares by FIG LLC and an employee of FIG LLC. Citigroup is acting as the sole underwriter for this offering. The company's management will also host a conference call on April 26, 2024, to discuss key performance measures and recent developments.
FTAI's forward-looking strategy is backed by a robust risk management framework, ensuring that potential market volatilities are adequately mitigated. The company's annual and quarterly reports, available on its website, provide detailed insights into its financial health and operational strategy.
Fortress Transportation and Infrastructure Investors announced a public offering of 12 million common shares at $25.50 each, aiming for gross proceeds of approximately $306 million. The offering will close on September 14, 2021, pending customary conditions. The proceeds are intended to repay part of the senior unsecured bridge term loans used for the acquisition of Transtar, LLC. Barclays, Morgan Stanley, and Citigroup are the joint book-running managers for the offering. This release emphasizes the company's strategic focus on enhancing its financial position and long-term asset value.
Fortress Transportation and Infrastructure Investors (NYSE: FTAI) announced a public offering of 12,000,000 common shares with an option for underwriters to purchase an additional 1,800,000 shares. The net proceeds will be used to repay part of the senior unsecured bridge term loans related to the acquisition of Transtar, LLC. Barclays, Morgan Stanley, and Citigroup are managing the offering. This follows the company's effective shelf registration statement filed with the SEC.
Fortress Transportation and Infrastructure Investors (FTAI) reported a Q2 2021 net loss attributable to shareholders of $36.5 million, translating to a loss of $0.42 per share. The company had net cash used in operating activities amounting to $15 million but generated $68.3 million in Funds Available for Distribution (FAD). A cash dividend of $0.33 per common share was declared, payable on August 30, 2021. Notable achievements include the acquisition of Transtar, a deal with ExxonMobil, and a lease arrangement for A319 aircraft. Financial results show a mixed performance with challenges in the infrastructure sector.
Fortress Transportation and Infrastructure Investors (NYSE: FTAI) announced that its subsidiary, Jefferson Energy, has secured a contract with ExxonMobil to expand terminal services. This includes constructing 1.9 million barrels of new storage capacity and five pipelines connecting to the Beaumont refinery, increasing total storage to 6.2 million barrels. The project aims to enhance logistics capabilities and strengthen the relationship between the two companies. Jefferson Energy has been operational since 2012 and currently offers over 4.3 million barrels of storage.
Fortress Transportation and Infrastructure Investors (NYSE:FTAI) announced that CEO Joe Adams will present at the Jefferies Virtual Industrials Conference on August 4, 2021, at 2:30 PM ET. Investors can access the presentation materials in the Investor Relations section of FTAI's website at www.ftandi.com.
FTAI specializes in acquiring high-quality infrastructure and equipment necessary for global transportation, focusing on assets that generate strong cash flows and offer potential growth.
Fortress Transportation and Infrastructure Investors LLC (FTAI) will announce its second quarter 2021 financial results on July 28, 2021, after the NYSE closes. The press release and earnings supplement will be available on its website.
A conference call will follow on July 29, 2021, at 8:00 A.M. ET, accessible at (877) 447-5636 (US) or (615) 247-0080 (international). A webcast will also be available on the company's site. A replay of the call will be offered from July 29 to August 5.
Fortress Transportation and Infrastructure Investors (NYSE:FTAI) announced the acquisition of Transtar, LLC, a rail subsidiary of United States Steel Corporation (USS), for $640 million. The transaction, set to close in Q3 2021, includes a 15-year strategic rail partnership with USS, enhancing FTAI's rail business through essential services. This acquisition is expected to improve profitability via operational optimization and additional revenue streams from ancillary services. Regulatory approvals are pending, emphasizing the strategic importance of this deal in boosting FTAI's operational effectiveness.
Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) has announced the completion of the Paline pipeline interconnection project, enhancing connections to the Jefferson Energy terminal in Beaumont, Texas. The project features a new five-mile, 10-inch pipeline facilitating efficient light crude oil movement from Cushing, Oklahoma. This interconnection increases crude oil accessibility for customers, leveraging Jefferson Energy's existing infrastructure, including 4.3 million barrels of storage and multiple transport options. The initiative aligns with FTAI's commitment to increasing logistical capabilities and customer service.
Fortress Transportation and Infrastructure Investors (NYSE:FTAI) has announced that CEO Joe Adams will present at the Stifel 2021 Virtual Cross Sector Insight Conference on June 10, 2021, at 11:20 AM ET. Investors can access the presentation materials via the Investor Relations section of the company's website, www.ftandi.com. FTAI specializes in owning and acquiring essential infrastructure and equipment for global transportation, targeting assets that promise strong cash flows and growth potential.
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