FTAI Aviation Ltd. and LATAM Airlines Group S.A. Engineer Perpetual Power Program
25 Aprile 2024 - 12:00PM
FTAI Aviation Ltd. (NASDAQ: FTAI) announces the successful
execution of a Perpetual Power Agreement with LATAM Airlines Group
S.A. (LATAM).
The agreement provides LATAM with a
comprehensive engine power solution comprising both CFM56 and V2500
engines, leveraging FTAI’s expertise in Maintain, Repair and
Exchange (MRE), through an engine exchange program and a sale and
lease transaction for over 30 aircraft. This program is designed to
offer LATAM cost savings and flexibility by avoiding shop visits
through engine exchanges, enhancing operational efficiency and
reducing maintenance downtime for LATAM’s fleet.
David Moreno, Senior Executive at FTAI Aviation,
stated, “This agreement with LATAM underscores FTAI’s ability to
collaborate on customer-focused solutions. Our goal is to offer
LATAM maximum flexibility as they decide on aircraft retirements or
additions, leveraging on our expertise on CFM and V2500
engines.”
Sebastian Acuto, VP Fleet & Projects at
LATAM highlighted, “Our new partnership with FTAI grants LATAM with
increased flexibility to extend the current fleet, allowing for a
better and faster response to the recent capacity disruptions that
the industry has witnessed on newer technology aircraft.”
About FTAI Aviation Ltd.
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 JV to manufacture
engine PMA, enables it to provide cost savings and flexibility to
our airline, lessor, and MRO 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.
About LATAM Airlines Group
S.A.
LATAM Airlines Group S.A. and its subsidiaries
(LATAM Group) are the leading airline group in Latin America, with
presence in five domestic markets in the region: Brazil, Chile,
Colombia, Ecuador, Paraguay, and Peru, in addition to international
operations within Latin America and to Europe, Oceania, Africa, the
United States and the Caribbean.
The LATAM Group has a fleet of Boeing 767, 777,
787 model aircraft and Airbus A321, A321neo, A320, A320neo and A319
aircraft.
Furthermore, LAN Cargo S.A. (LATAM Cargo Chile)
and its regional subsidiaries in Colombia and Brazil are the LATAM
group’s cargo subsidiaries. In addition to having access to the
bellies of the passenger affiliates' aircraft, they have a fleet of
twenty (20) freighters. These cargo subsidiaries have access to the
group's passenger aircraft, and operate within the LATAM group
network, as well as on exclusive international routes for cargo
transportation. In addition, they offer a modern infrastructure and
a wide variety of services and support options to meet the needs of
its customers.
More financial information available
at: www.latamairlinesgroup.net and www.latam.com.
The information contained on, or accessible through, any
websites included in this press release is not incorporated by
reference into, and should not be considered a part of, this press
release.
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 FTAI’s expectations regarding FTAI’s ability to help
eliminate LATAM shop visits through an engine exchange program, and
FTAI’s ability to enhance operational efficiency and reduce
maintenance downtime for LATAM’s fleet. 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.ftaiaviation.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 AndreiniInvestor RelationsFTAI Aviation Ltd.(646)
734-9414aandreini@fortress.com
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