Power for the
Innovating CFM56 Power
Stakeholders across the aviation industry are emphasizing the development of processes and products that will lead to a cleaner future. FTAI is proud to be a part of this by providing customers with access to efficient engine leasing, sustainable maintenance, aftermarket parts, and carbon offsets.
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By accessing our large inventory of engines.
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Through quick and simple module exchanges.
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By Purchasing our low-cost and readily available material.
Our Solutions
We provide a complete suite of aviation products that include aircraft leasing, engine leasing, engine repair capabilities at The Module Factory™, and used serviceable material.
Founded in 2011, FTAI Aviation is a Fortress Investment Group managed company with over $1.8 billion AUM. Our goal [mission statement - David]
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Aftermarket
FTAI Aviation is a global, industry-leading supplier of high quality CFM56 engines, modules, and material. Our suite of complimentary products enables FTAI to offer tailored solutions for the most burdensome aspect of aircraft operations – engine maintenance. These events are often costly, time-consuming, complex and subject to volatile market dynamics. FTAI Aviation offers effective solutions for most engine removal scenarios that control costs and keep assets in the air.
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FTAI offers a diverse selection of aircraft and engines available to customers worldwide. We make leasing simple by offering solutions to support AOG situations, shop visit coverage, and assume full maintenance risk.
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• 7B20 • 7B22 • 7B24 • 7B26 • 7B27
With a portfolio of over 220 engines and performance support from The Module Factory™, creative solutions are tailored to the unique needs of our lessees.
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Whether it is narrowbody, widebody, or cargo aircraft that are needed to fulfil operational needs, a range of airframe variants and compatabilities are available.
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FTAI offers a diverse selection of aircraft and engines available to customers worldwide. We make leasing simple by offering solutions to support AOG situations, shop visit coverage, and assume full maintenance risk through the Perpetual Power program.
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How it works
Mix-and-match modules
The low pressure turbine converts the energy remaining from the core into horsepower to spin the fan
LPT
54x | 55x | 56x
Achieve Cost Savings
Reduce Engine Downtime
Eliminate Surprise Overages
of net savings per module exchange
~$350k
~4 months to 20 days
Transform a shop visit
~$200k
of surprise overages eliminated
The core module is the generator of the engine's power.
31x | 32x | 33x | 41x | 42x | 51x | 52x | 53x
core
~$1,000k
~6 months to 20 days
~$500k
The fan module supercharges the engine airflow and produces the engines thrust. Estimated savings compared to a standard CFM56 shop visit.
FAN
21x | 22x
~$250k
~3 months to 7 days
~$150k
CORE
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Over 40 modules available at anytime and anywhere.
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Global certifications (EASA/FAA/TCCA/CAAC)
Over 500,000 square feet
Up to 25 engines per month
25+ years of experience with CFM56 family (1,500+ shop visits)
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Comprehensive engine MRO
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The Module Factory™
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In collaboration with our partners, we are the leading independent supplier of CFM56 aftermarket engine parts.
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Used serviceable material
Consistently deliver high quality CFM56 used serviceable material including hot-section airfoils and life-limited-parts with one of the largest independent inventories worldwide.
LifeX
Discover our low-cost alternative engine solutions delivered with our partner Chromalloy. Founded in 1951, Chromalloy is a leader in aerospace engineering and a pioneer in protective coatings.
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Long Live Your Engine | Chromalloy
FTAI Aviation Ltd. (NASDAQ: FTAI) is a leading aerospace company that sets out to fulfill an idea that does not build on traditional aircraft leasing, but instead focuses on engine leasing. This revolutionized the approach to how lessors can serve operators by offering a variety of standalone engines and unique maintenance products to support busy fleets. FTAI has built a portfolio of nearly $2B worth of aviation leasing equipment and aerospace inventory. The company has also narrowed its focus on developing CFM56-7B/5B engine-type capabilities, enabling it to offer a truly differentiated product for customers looking for power, lift and bespoke engine maintenance solutions.
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Joe Adams
Chief Executive Officer of FTAI
David Moreno
Chief Operating Officer
Stacy Kuperus
Chief Portfolio Officer
Thomas Garbaccio
+1.786.785.0737 +1.646.932.0164 tgarbaccio@ftaiaviation.com English, French Miami
President & Chief Commercial Officer
+1.332.239.7603 +1.646.206.8436 dmoreno@ftaiaviation.com English, Spanish New York
STACY KUPERUS
+1.332.239.7604 +1.917.836.9804 skuperus@ftaiaviation.com English New York
Sam Hammoud
Head of
Michael Lindsay
Head of USM Program
Altug Sokeli
Head of Asset Trading
Tom McFarland
+1.786.785.0787 +1.813.310.0837 tmcfarland@ftaiaviation.com English Miami
Head of Engine Leasing
altug sokeli
+971.44.01.9982 +971.50.650.0783 asokeli@fortress.com English, Turkish Dubai
Michael LindsAy
+1.332.239.7606 +1.646.300.0351 mlindsay@ftaiaviation.com English New York
+1.332.239.7608 +1.646.565.9706 shammoud@ftaiaviation.com English New York
Head of The Module Factory™
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FTAI Aviation is proud to announce the successful split from FTAI Infrastructure
FTAI announces joint ESG initiative with AAR and will donate 1% of earnings to Carbon Offsetting….
Business Wire - LeaseWorks Debuts Aeris Portal with Launch Customer FTAI Aviation
Fortress Transportation and Infrastructure Investors LLC Reports First Quarter 2022 Results...
GlobeNewswire - FTAI Aviation closes the Sale and Leaseback of 9 of 19 Aircraft with Avianca
Fortress Transportation and Infrastructure Investors LLC Reports Second Quarter 2022 Results.
Stefan Kageman
Senior Vice President, Aircraft Leasing
Stuart MacGregor
Senior Vice President, Aircraft Portfolio Management
Alun Roberts
Vice President, Engine Leasing
Mark Napoles
+1 786 785 0777 +1 646 860 5326 mnapoles@ftaiaviation.com English Miami
VP, Engine Leasing
+44 20 7290 5719 +44 75 8309 6697 aroberts@ftaiaviation.com English Cardiff
Stuart macgregor
+1 332 239 7652 +1 917 596 7488 smacgregor@ftaiaviation.com English New York
+1 786 785 0787 +1 954 801 9401 skageman@ftaiaviation.com English Miami
Sr VP, Aircraft Leasing
Leasing Team
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FTAI IN THE NEWS
Fortress Transportation and Infrastructure Investors LLC Announces Completion of FTAI Infrastructure Spin-Off.
AviationWeek - Will The Popularity Of Engine Module Changes Continue?
Ishka - How FTAI plans to corner the CFM56 aftermarket
CFM56 Maintenance for WestJet by Lufthansa Technik
CARDIFF
How FTAI plans to corner the CFM56 aftermarket
December 3, 2021 By Eduardo Mariz, Analyst at Ishka
This article originally appears on:
The used CFM56 market has been recovering over the past year, with demand for 5Bs but especially 7Bs (the Boeing 737 NG variants) seeing increasing demand. FTAI Aviation’s play in this space is more long-term – in the next 10 years, it expects 90% of current CFM56 engines to exit their initial OEM PBH maintenance contracts, increasing the demand for green-time leasing. The firm is also expecting the cost of CFM56 engine shop visits to double during that period, which will make its maintenance cost synergies even more relevant. FTAI’s funding trajectory mimics in many ways that of Aircastle, a mid-life aircraft lessor founded by Joseph Adams, who is CEO and co-founder of FTAI. Aircastle, now privately owned by affiliates of Marubeni and Mizuho Leasing, took two years to its initial public offering (IPO) from 2004 to 2006 and a further 12 years to obtaining IG status by the three largest credit rating agencies in 2018.
Three Questions with Thomas Garbaccio
The Ishka View
Thomas Garbaccio FTAI Aviation President & chief commercial officer explains how the aftermarket engine lessor plans to leverage its scale and MRO partnerships to cut costs for customers. FTAI Aviation, an aftermarket engine lessor focused on the CFM56 and a wholly-owned subsidiary of Fortress Transportation and Infrastructure Investors LLC (FTAI), has been an active buyer through the pandemic. The lessor currently owns approximately 300 CFM56 engines and recently acquired Airbus narrowbody portfolios from Alitalia (novated to ITA Airways) and Avianca. Speaking with Ishka, Thomas Garbaccio, FTAI Aviation President & chief commercial officer, explains that the lessor is seeking to deepen its focus on the CFM56 market and provide cost synergies through its various MRO partnerships and sheer scale as it continues its transformation into a stand-alone entity. FTAI went public in May 2015 and has since leveraged its capital raising and unsecured debt issuances to acquire (on the aviation side) mostly end-of-life aircraft and engines. Recently, FTAI Aviation announced it is working on charting its own path away from its FTAI’s infrastructure arm. FTAI’s infrastructure arm is to be spun as a C corporation – a US corporation taxed separately from its owners – while FTAI will retain the aviation business and all existing corporate debt. FTAI’s portfolio is currently comprised of 90 aircraft (12 widebodies and 78 narrowbodies) and 435 engines (including those on aircraft). The firm has seen growth in recent months, with earnings (EBITDA) up by around 67% between Q1 and Q3 and the value of its aviation assets up 9% to $1.87 billion currently. For 2022, it hopes that third-party partnerships in aftermarket parts, Engine Parts Manufacturer (PMA) parts, and maintenance will provide an earnings (EBITDA) uplift. Q: How do you see FTAI Aviation as a stand-alone company? Garbaccio: We see FTAI Aviation as the leader of the CFM56 aftermarket. Our mission is to provide our customers with the lowest cost of maintenance and the highest flexibly to achieve their fleet performance. Our business strategy starts with our assets. Today we have a combined 435 engines, with approximately 300 of them being CFM56-7B and CFM56-5B. We use this pool of engines to offer customers leasing, exchanges, and shop visit avoidance programs. However, what makes our business model truly unique is our CFM56 maintenance exclusive partnerships with industry maintenance leaders. Today, we are proud of our three partnerships which include used serviceable material with AAR, The Module Factory with Lockheed Martin, and LifeX Solutions with Chromalloy. In our first partnership, in collaboration with AAR, we have established the independent industry leader for CFM56 used serviceable material. In support of shop visits, we offer airline and MRO customers a lower cost and more sustainable alternative to new parts. Our second partnership, The Module Factory, we have commercialized CFM56 modules with Lockheed Martin to offer our customers a more cost-effective, less risky, and quicker solution to traditional engine refurbishments. We unlock the value of a CFM56 engine by componentizing and workscoping at the module level (i.e., FAN, Core and LPT) and making them available for sale or exchange. Our final partnership is with Chromalloy, where we develop hot section alternative parts to save significant cost. At FTAI Aviation, we combine all our proprietary products with our large inventory of CFM56 engines to deliver a complete vertical solution. We work with our customers to understand their specific requirements and provide targeted solutions. Q: What assets and airline counterparties are you targeting in your acquisition strategy? Garbaccio: We target investments with strong engine maintenance value. As a result, we buy engines through different forms, which include buying them through on-lease midlife aircraft, off-lease aircraft, or standalone serviceable or unserviceable engines. To provide more colour, on aircraft investments, we target mid-life aircraft (typically 15 years+) to harvest its serviceable engines after the airframe reaches its useful life. A great example of this is a deal we did with TAP earlier this year – where we purchased 8 A320 aircraft to harvest strong CFM56-5B engines. Furthermore, we often purchase aircraft by originating sale leasebacks directly with airlines. We have done number of these deals in the last couple years – some include Air France, Avianca, and ITA. In most of these scenarios, we retain the engine management services which adds significant incremental value as airlines can save cost and time on engine maintenance. Overall, our investment strategy is to generate maintenance arbitrage in an engine’s lifecycle. As mentioned earlier, we accomplish this by running the CFM56 through its various lifecycles which include taking aircraft to engine, engines to modules, and modules to used serviceable material. Q: How is your business model different from that of other engine lessors? Garbaccio: Our business model is differentiated through our vertically integrated maintenance partnerships. All our partnerships are exclusive and have a minimum term of 7 years, which will allow us to be the leader of the CFM56 aftermarket. Our business is asset-focused so we continue to leverage new ways to acquire assets from airline, lessors, and investors around the world. We combine our maintenance advantages with assets to provide aftermarket solutions that other engine lessors are unable to duplicate.
https://www.ishkaglobal.com/News/Article/6569/How-FTAI-plans-to-corner-the-CFM56-aftermarket#
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