FTAI on Nasdaq
FTAI Aviation Ltd.
Miscellaneous equipment rental and leasing services company1
In its 2026 annual report the company says: “We are a leading independent engine maintenance platform focused on the CFM56-5B, CFM56-7B and V2500 aircraft engines which power the 737NG and A320ceo aircraft. We repair and rebuild engines in our maintenance facilities and with our joint venture partners, and sell or lease the engines to airlines and asset owners around the world. Our primary business model is to sell or lease engines via exchange through our proprietary Maintenance, Repair and Exchange model which is reported under our Aerospace Products segment.”4 It is headquartered in New York, New York.1 Its shares trade on Nasdaq under the symbol FTAI.1
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Last updated Oct 21, 2026.
Overview
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- TickerFTAI on Nasdaq1
- IndustryServices-Miscellaneous Equipment Rental & Leasing1
- HeadquartersNew York, New York1
- Business address405 West 13Th Street, 3Rd Floor, New York, Ny 100142
- Filer categoryLarge accelerated filer2
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FTAI Aviation Ltd. (Nasdaq: FTAI) is a Cayman Islands exempted company. Except as otherwise specified, “we”, “us”, “our”, “FTAI”, “FTAI Aviation” or “the Company” refer to us and our consolidated subsidiaries.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
20.0%Net margin5
44.5%Revenue growth, 20255
149.9%Return on equity5
10.32×Debt to equity5
-$338.5MFree cash flow5
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Aerospace Products brought in 66% of the revenue FTAI Aviation Ltd. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Aerospace Products | $455.0M | $1.1B | $1.6B |
| Equipment Leasing | $207.9M | $255.3M | $235.2M |
| Equipment Leasing Revenues | $207.9M | $255.3M | $235.2M |
| Maintenance | $191.3M | $200.8M | $218.5M |
| Manufactured Product, Other | $303.1M | $192.2M | $106.9M |
| Product and Service, Other | $13.5M | $6.8M | $10.5M |
Business segments
Aerospace Products brought in 77% of the revenue FTAI Aviation Ltd. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Aerospace Products | $455.0M | $1.1B | $1.9B |
| Aviation Leasing | $681.6M | $628.4M | $571.2M |
Regions
North America brought in 50% of the revenue FTAI Aviation Ltd. broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| North America | $587.1M | $613.4M | $1.2B |
| Europe | $364.5M | $688.7M | $659.5M |
| Asia | $154.0M | $340.5M | $435.1M |
| Africa | $1.7M | $12.9M | $92.2M |
| South America | $63.7M | $79.4M | $75.6M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue54¢$1.3B
- Other costs22¢$551.0M
- Income tax4¢$105.6M
- Profit20¢$501.1M
Out of $2.5B in revenue.5
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cost of sales | $1.3B | $825.9M | $502.1M |
| Operating expenses | $152.5M | $115.9M | $110.2M |
| General and administrative | $9.5M | $14.3M | $13.7M |
| Acquisition and transaction expenses | $28.6M | $32.3M | $15.2M |
| Management fees and incentive allocation to affiliate | $0 | $8.4M | $18.0M |
| Internalization fee to affiliate | $0 | $300.0M | $0 |
| Depreciation and amortization | $225.8M | $218.1M | $169.9M |
| Asset impairment | $0 | $962.0K | $2.1M |
| Gain on sale of assets, net | $0 | -$18.7M | $0 |
| Total expenses | $1.8B | $1.5B | $831.2M |
| Interest expense | -$247.8M | -$221.7M | -$161.6M |
| Loss on extinguishment of debt | $0 | -$17.1M | $0 |
| Equity in losses of unconsolidated entities | -$6.8M | -$2.2M | -$1.6M |
| Gain on sale to the 2025 Partnership | $46.4M | $0 | $0 |
| Other income | $73.6M | $17.4M | $7.6M |
| Total other (expense) | -$134.6M | -$223.7M | -$155.7M |
| Income before income taxes | $606.7M | $14.2M | $184.0M |
| Provision for (benefit from) income taxes | $105.6M | $5.5M | -$59.8M |
| Net income | $501.1M | $8.7M | $243.8M |
| Less: Dividends on preferred shares | $17.2M | $32.8M | $31.8M |
| Less: Loss on redemption of preferred shares | $6.3M | $8.0M | $0 |
| Net (loss) income attributable to shareholders | $477.5M | -$32.1M | $212.0M |
| Basic (in dollars per share) | $4.66 | -$0.32 | $2.12 |
| Diluted (in dollars per share) | $4.60 | -$0.32 | $2.11 |
| Basic (in shares) | 102.6M shares | 101.5M shares | 99.9M shares |
| Diluted (in shares) | 103.8M shares | 101.5M shares | 100.4M shares |
| Total revenues | $2.5B | $1.7B | $1.2B |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2024-05-31 |
|---|---|---|---|
| Cash and cash equivalents | $300.5M | $115.1M | |
| Inventory, net | $1.2B | $551.2M | |
| Other current assets | $408.4M | $408.9M | |
| Total current assets | $2.1B | $1.2B | |
| Leasing equipment, net | $1.5B | $2.4B | |
| Property, plant, and equipment, net | $120.1M | $107.5M | |
| Investments | $314.2M | $19.0M | |
| Intangible assets, net | $19.9M | $42.2M | |
| Goodwill | $94.2M | $61.1M | |
| Other non-current assets | $167.1M | $208.4M | |
| Total assets | $4.4B | $4.0B | |
| Accounts payable | $208.2M | $69.1M | |
| Accrued liabilities | $90.0M | $96.9M | |
| Current maintenance deposits | $25.4M | $62.6M | |
| Current security deposits | $14.0M | $18.1M | |
| Other current liabilities | $62.2M | $100.6M | |
| Total current liabilities | $399.9M | $347.2M | |
| Long-term debt, net | $3.4B | $3.4B | |
| Non-current maintenance deposits | $46.2M | $44.2M | |
| Non-current security deposits | $15.2M | $26.8M | |
| Other non-current liabilities | $129.4M | $97.9M | |
| Total liabilities | $4.0B | $4.0B | |
| Ordinary shares ($0.01 par value per share; 2,000,000,000 shares authorized; 102,573,283 and 102,550,975 shares issued and outstanding as of December 31, 2025 and 2024, respectively) | $1.0M | $1.0M | |
| Preferred shares ($0.01 par value per share; 200,000,000 shares authorized; 6,800,000 and 11,740,000 shares issued and outstanding as of December 31, 2025 and 2024, respectively) | $68.0K | $117.0K | |
| Additional paid in capital | $50.6M | $153.3M | |
| Retained Earnings (accumulated deficit) | $282.5M | -$73.1M | |
| Shareholders' equity | $334.2M | $81.4M | |
| Total liabilities and equity | $4.4B | $4.0B | |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | $0.01 |
| Common stock, shares authorized (in shares) | 2.0B shares | 2.0B shares | |
| Common stock, shares issued (in shares) | 102.6M shares | 102.6M shares | 1.9M shares |
| Common stock, shares outstanding (in shares) | 102.6M shares | 102.6M shares | |
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Preferred stock, shares authorized (in shares) | 200.0M shares | 200.0M shares | |
| Preferred stock, shares issued (in shares) | 6.8M shares | 11.7M shares | |
| Preferred stock, shares outstanding (in shares) | 6.8M shares | 11.7M shares | |
| Accounts receivable, net | $209.9M | $150.8M |
| Period ending | 2025-12-31 | 2024-12-31 | 2024-05-31 |
|---|---|---|---|
| Cash and cash equivalents | $300.5M | $115.1M | |
| Inventory, net | $1.2B | $551.2M | |
| Other current assets | $408.4M | $408.9M | |
| Total current assets | $2.1B | $1.2B | |
| Leasing equipment, net | $1.5B | $2.4B | |
| Property, plant, and equipment, net | $120.1M | $107.5M | |
| Investments | $314.2M | $19.0M | |
| Intangible assets, net | $19.9M | $42.2M | |
| Goodwill | $94.2M | $61.1M | |
| Other non-current assets | $167.1M | $208.4M | |
| Total assets | $4.4B | $4.0B | |
| Accounts payable | $208.2M | $69.1M | |
| Accrued liabilities | $90.0M | $96.9M | |
| Current maintenance deposits | $25.4M | $62.6M | |
| Current security deposits | $14.0M | $18.1M | |
| Other current liabilities | $62.2M | $100.6M | |
| Total current liabilities | $399.9M | $347.2M | |
| Long-term debt, net | $3.4B | $3.4B | |
| Non-current maintenance deposits | $46.2M | $44.2M | |
| Non-current security deposits | $15.2M | $26.8M | |
| Other non-current liabilities | $129.4M | $97.9M | |
| Total liabilities | $4.0B | $4.0B | |
| Ordinary shares ($0.01 par value per share; 2,000,000,000 shares authorized; 102,573,283 and 102,550,975 shares issued and outstanding as of December 31, 2025 and 2024, respectively) | $1.0M | $1.0M | |
| Preferred shares ($0.01 par value per share; 200,000,000 shares authorized; 6,800,000 and 11,740,000 shares issued and outstanding as of December 31, 2025 and 2024, respectively) | $68.0K | $117.0K | |
| Additional paid in capital | $50.6M | $153.3M | |
| Retained Earnings (accumulated deficit) | $282.5M | -$73.1M | |
| Shareholders' equity | $334.2M | $81.4M | |
| Total liabilities and equity | $4.4B | $4.0B | |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | $0.01 |
| Common stock, shares authorized (in shares) | 2.0B shares | 2.0B shares | |
| Common stock, shares issued (in shares) | 102.6M shares | 102.6M shares | 1.9M shares |
| Common stock, shares outstanding (in shares) | 102.6M shares | 102.6M shares | |
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Preferred stock, shares authorized (in shares) | 200.0M shares | 200.0M shares | |
| Preferred stock, shares issued (in shares) | 6.8M shares | 11.7M shares | |
| Preferred stock, shares outstanding (in shares) | 6.8M shares | 11.7M shares | |
| Accounts receivable, net | $209.9M | $150.8M |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 4 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | $501.1M | $8.7M | $243.8M | |
| Equity in losses of unconsolidated entities | $6.8M | $2.2M | $1.6M | |
| Gain on sale of assets | -$377.5M | -$377.9M | -$160.7M | |
| Gain on sale of assets to the 2025 Partnership | -$46.4M | $0 | $0 | |
| Gain on insurance recoveries | -$54.3M | $0 | $0 | |
| Security deposits and maintenance claims included in earnings | -$20.9M | -$16.8M | -$40.5M | |
| Loss on extinguishment of debt | $0 | $17.1M | $0 | |
| Equity-based compensation | $21.7M | $6.0M | $1.6M | |
| Non-cash termination fee to affiliate (issuance of ordinary shares) | $0 | $150.0M | $0 | |
| Depreciation and amortization | $225.8M | $218.1M | $169.9M | |
| Asset impairment | $0 | $962.0K | $2.1M | |
| Deferred income taxes | $74.0M | -$1.9M | -$63.6M | |
| Change in fair value of guarantees | $3.1M | $2.1M | -$1.8M | |
| Amortization of lease intangibles and incentives | $41.8M | $44.0M | $43.8M | |
| Amortization of deferred financing costs | $11.8M | $11.5M | $8.9M | |
| Provision for credit losses | $574.0K | $2.8M | $6.6M | $6.6M |
| Other | $4.2M | -$273.0K | -$6.6M | |
| Accounts receivable | -$42.4M | -$41.2M | -$40.4M | |
| Inventory | -$645.5M | -$206.9M | -$31.9M | |
| Other assets | -$136.8M | -$14.4M | -$5.6M | |
| Accounts payable and accrued liabilities | $122.8M | $15.9M | $1.3M | |
| Management fees payable to affiliate | -$960.0K | -$5.5M | $1.7M | |
| Other liabilities | $356.0K | -$2.4M | -$997.0K | |
| Net cash (used in) provided by operating activities | -$310.7M | -$188.0M | $129.0M | |
| Investment in unconsolidated entities | -$328.5M | $0 | -$19.5M | |
| Return of capital from unconsolidated entities | $27.1M | $0 | $0 | |
| Principal collections on finance leases | $1.6M | $2.2M | $3.6M | |
| Principal collections on notes receivable | $6.7M | $4.9M | $4.9M | |
| Acquisition of business, net of cash acquired | -$49.1M | -$147.6M | -$29.6M | |
| Acquisition of leasing equipment | -$658.8M | -$1.1B | -$749.8M | |
| Investments in financing receivables | -$2.8M | -$66.9M | $0 | |
| Acquisition of property, plant and equipment | -$27.7M | -$9.2M | -$6.1M | |
| Acquisition of lease intangibles | $2.5M | $3.2M | -$21.0M | |
| Investment in promissory notes | -$4.7M | $0 | -$11.5M | |
| Deposits for acquisitions of leasing equipment | -$65.9M | -$158.3M | -$23.9M | |
| Proceeds from settlement of insurance claims | $54.3M | $0 | $0 | |
| Proceeds from deposits on sale of leasing equipment | $7.3M | $79.8M | $1.4M | |
| Return of deposits for acquisition of leasing equipment | $48.9M | $530.0K | $300.0K | |
| Net cash provided by (used in) investing activities | $723.3M | -$469.5M | -$373.3M | |
| Proceeds from debt | $480.0M | $2.6B | $951.7M | |
| Repayment of debt | -$480.0M | -$1.7B | -$605.0M | |
| Payment of deferred financing costs | -$524.0K | -$17.4M | -$12.2M | |
| Receipt of security deposits under operating lease agreements | $5.2M | $8.1M | $9.9M | |
| Return of security deposits under operating lease agreements | -$4.3M | -$421.0K | -$2.4M | |
| Receipt of maintenance deposits under operating lease agreements | $49.1M | $49.3M | $30.4M | |
| Release of maintenance deposits under operating lease agreements | -$5.5M | -$7.1M | -$275.0K | |
| Proceeds from issuance of ordinary shares, net of underwriter's discount | $0 | $0 | $5.0K | |
| Proceeds from issuance of preferred shares, net of underwriter's discount and issuance costs | $0 | $0 | $61.7M | |
| Capital contributions from non-controlling interests | $0 | $0 | $10.0K | |
| Settlement of equity-based compensation | -$1.5M | $0 | $0 | |
| Purchase of non-controlling interest shares | $0 | -$534.0K | $0 | |
| Redemption of preferred shares | -$124.2M | -$105.4M | $0 | |
| Cash dividends - ordinary shares | -$128.2M | -$121.6M | -$119.8M | |
| Cash dividends - preferred shares | -$17.2M | -$32.8M | -$31.8M | |
| Net cash (used in) provided by financing activities | -$227.2M | $681.8M | $282.2M | |
| Net increase (decrease) in cash and cash equivalents and restricted cash | $185.4M | $24.4M | $37.8M | |
| Cash paid for interest, net of capitalized interest | $235.2M | $222.1M | $150.6M | |
| Cash paid for taxes | $15.7M | $5.7M | $1.4M | |
| Receipt of notes receivable in connection with the sale of leasing equipment | $88.0M | $88.3M | $46.7M | |
| Acquisition of leasing equipment in accrued liabilities | -$22.5M | -$22.1M | -$9.0M | |
| Receipt of leasing equipment in settlement of accounts receivable | -$5.1M | $0 | -$14.2M | |
| Purchase deposits reclassified to leasing equipment from other assets upon acquisition | -$52.8M | -$19.6M | -$6.4M | |
| Decrease in leasing equipment for engines provided to aircraft lessees in lieu of cash reimbursements of maintenance deposits | $5.1M | $0 | $11.0M | |
| Accounts receivable settled with security deposits | -$3.1M | -$4.8M | -$6.0M | |
| Accounts receivable settled with maintenance deposits | -$27.0M | -$45.7M | -$1.9M |
No quarter-by-quarter statement was filed.
Corporate structure
FTAI Aviation Ltd. sits at the top of its group. 66 entities, 14 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of FTAI Aviation Ltd.
- VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on FTAI Aviation Ltd., latest Sep 3, 2026
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on FTAI Aviation Ltd., latest Sep 3, 2026 (4 filings since Feb 9, 2023)
- Capital World Investors Filed SCHEDULE 13G/A on FTAI Aviation Ltd., latest Aug 12, 2026 (4 filings since Aug 13, 2025)
- FMR LLC Filed SCHEDULE 13G/A on FTAI Aviation Ltd., latest Aug 6, 2026 (3 filings since Feb 9, 2024)
- SHIKIAR ASSET MANAGEMENT INC Filed SCHEDULE 13G on FTAI Aviation Ltd., latest Jul 22, 2026 (7 filings since Feb 5, 2025)
- Capital International Investors Filed SCHEDULE 13G/A on FTAI Aviation Ltd., latest May 14, 2026 (4 filings since Nov 13, 2024)
- BlackRock Filed SCHEDULE 13G on FTAI Aviation Ltd., latest Apr 27, 2026 (6 filings since Feb 6, 2024)
- WASHINGTON STATE INVESTMENT BOARD Filed SCHEDULE 13G/A on FTAI Aviation Ltd., latest Feb 14, 2025 (4 filings since Jan 6, 2023)
- Morgan Stanley Filed SC 13G/A on FTAI Aviation Ltd., latest Dec 8, 2023 (3 filings since Feb 10, 2022)
- Bank of America Filed SC 13G/A on FTAI Aviation Ltd., latest Feb 14, 2023 (2 filings since Jan 31, 2022)
- Goldman Sachs Filed SC 13G on FTAI Aviation Ltd., latest Feb 11, 2022
- FTAI Aviation Ltd. New York, New York
- AEROTECHOPS, UNIPESSOAL LDA Subsidiary · Portugal
- AirOpCo 1ET Bermuda Ltd. Subsidiary · Bermuda
- AirOpCo I SD Ireland DAC Subsidiary · Ireland
- Falcon MSN 177 LLC Subsidiary · Delaware, United States
- FTAI (Tianjin) Aviation Leasing Co., Ltd. Subsidiary · China
- FTAI Aircraft Financing Ireland (2025) DAC Subsidiary · Ireland
- FTAI Aircraft Financing US (2025) LLC Subsidiary · Delaware, United States
- FTAI Aircraft Leasing (2025) GP, L.P. Subsidiary · Cayman Islands
- FTAI Aircraft Leasing (2025) UGP, Ltd. Subsidiary · Cayman Islands
- FTAI Aircraft Leasing Bermuda (2025) Ltd. Subsidiary · Bermuda
- FTAI Aircraft Leasing Bermuda II (2025) Ltd Subsidiary · Bermuda
- FTAI Aircraft Leasing DAC Subsidiary · Ireland
- FTAI Aircraft Leasing France (2025) SAS Subsidiary · France
- FTAI Aircraft Leasing Holdings (2025) Inc. Subsidiary · Delaware, United States
- FTAI Aircraft Leasing Holdings Malta (2025) Ltd. Subsidiary · Malta
- FTAI Aircraft Leasing Holdings US (2025) LLC Subsidiary · Delaware, United States
- FTAI Aircraft Leasing Ireland (2025) DAC Subsidiary · Ireland
- FTAI Aircraft Leasing Ireland II (2025) DAC Subsidiary · Ireland
- FTAI Aircraft Leasing LLC Subsidiary · Delaware, United States
- FTAI Aircraft Leasing Master SPV (2025) L.P. Subsidiary · Delaware, United States
- FTAI Aircraft Leasing Offshore Holdings (2025) L.P. Subsidiary · Cayman Islands
- FTAI Aircraft Leasing Offshore Master SPV (2025) L.P. Subsidiary · Cayman Islands
- FTAI Aircraft Leasing Offshore SPV (2025) L.P. Subsidiary · Cayman Islands
- FTAI Aircraft Leasing SPV (2025) L.P. Subsidiary · Delaware, United States
- FTAI Aircraft Leasing UK (2025) Ltd Subsidiary · United Kingdom
- and 40 more
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What FTAI Aviation Ltd. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, net | $1.7B5 Dec 31, 2025 | $2.5B5 Dec 31, 2024 | −32.9% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $300.5M5 Dec 31, 2025 | $115.1M5 Dec 31, 2024 | +161.0% |
| Stakes in other companies (equity method) | $314.2M5 Dec 31, 2025 | $19.0M5 Dec 31, 2024 | +1549.3% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $94.2M5 Dec 31, 2025 | $61.1M5 Dec 31, 2024 | +54.3% |
| Intangible assets, net (excluding goodwill) | $42.2M10 Dec 31, 2024 | $50.6M10 Dec 31, 2023 | −16.6% |
| Finite-lived intangibles, net | $19.9M5 Dec 31, 2025 | $42.2M5 Dec 31, 2024 | −52.8% |
Inventory
Properties, in its own words
We lease space for our offices in New York, Florida, Dubai, Ireland, Singapore and Wales, respectively, and we own and/or lease maintenance facilities in Florida, California, Canada, and Portugal for our Aerospace Products business. We believe that our office facilities and properties are suitable and adequate for our business as it is contemplated to be conducted.
Item 2 of the 10-K filed Feb 27, 2026.4
Leadership
Who has led FTAI Aviation Ltd., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
20202025
- Chief executive officerJoseph P. Adams Jr. May 14, 2015 to now13
- ChairJoseph P. Adams Jr. Mar 19, 2020 to now14
- PresidentDavid Moreno Mar 3, 2026 to now15
- Chief financial officerNicholas McAleese Mar 16, 2026 to now16
- Chief financial officerEun Nam May 28, 2024 to Mar 16, 202617
- Chief financial officerScott Christopher Mar 23, 2020 to Mar 23, 202018
- Chief financial officerJonathan Atkeson May 14, 2015 to Nov 12, 201519
- Chief operating officerStacy Kuperus Mar 3, 2026 to now20
- Chief operating officerDavid Moreno Apr 16, 2025 to Mar 3, 202621
- Chief operating officerJonathan Atkeson May 14, 2015 to Nov 12, 201519
Board members and other officers (13)
- Chief Accounting OfficerMichael Hazan Mar 16, 2026 to now22
- Chief Portfolio OfficerStacy Kuperus Apr 16, 2025 to now23
- Chief Accounting OfficerEun Nam Aug 6, 2018 to Aug 3, 202024
- Chief Accounting OfficerScott Christopher May 14, 2015 to May 14, 201525
- Board memberShyam H. Gidumal May 7, 2025 to now26
- Board memberA. Andrew Levison Jan 11, 2018 to now27
- Board memberJudith A. Hannaway Jan 11, 2018 to now28
- Board memberKenneth J. Nicholson May 6, 2016 to Feb 28, 202429
- Board memberJoseph P. Adams Jr. May 14, 2015 to Mar 9, 202013
- Board memberMartin Tuchman May 14, 2015 to now30
- Board memberPaul R. Goodwin May 14, 2015 to now31
- Board memberRay M. Robinson May 14, 2015 to now32
- General counselBohee Yoon Apr 16, 2025 to now33
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- AEROTECHOPS, UNIPESSOAL LDA Portugal3
- AirOpCo 1ET Bermuda Ltd. Bermuda3
- AirOpCo I SD Ireland DAC Ireland3
- FTAI (Tianjin) Aviation Leasing Co., Ltd. China3
- FTAI AirOpCo UK Ltd. England and Wales3
- FTAI Aircraft Financing Ireland (2025) DAC Ireland3
- FTAI Aircraft Financing US (2025) LLC Delaware, USA3
- FTAI Aircraft Leasing (2025) GP, L.P. Cayman Islands3
- FTAI Aircraft Leasing (2025) UGP, Ltd. Cayman Islands3
- FTAI Aircraft Leasing Bermuda (2025) Ltd. Bermuda3
- FTAI Aircraft Leasing Bermuda II (2025) Ltd Bermuda3
- FTAI Aircraft Leasing DAC Ireland3
- FTAI Aircraft Leasing France (2025) SAS France3
- FTAI Aircraft Leasing Holdings (2025) Inc. Delaware, USA3
- FTAI Aircraft Leasing Holdings Malta (2025) Ltd. Malta3
- FTAI Aircraft Leasing Holdings US (2025) LLC Delaware, USA3
- FTAI Aircraft Leasing Ireland (2025) DAC Ireland3
- FTAI Aircraft Leasing Ireland II (2025) DAC Ireland3
- FTAI Aircraft Leasing LLC Delaware, USA3
- FTAI Aircraft Leasing Master SPV (2025) L.P. Delaware, USA3
- FTAI Aircraft Leasing Offshore Holdings (2025) L.P. Cayman Islands3
- FTAI Aircraft Leasing Offshore Master SPV (2025) L.P. Cayman Islands3
- FTAI Aircraft Leasing Offshore SPV (2025) L.P. Cayman Islands3
- FTAI Aircraft Leasing SPV (2025) L.P. Delaware, USA3
All 67 listed subsidiaries
- FTAI Aircraft Leasing UK (2025) Ltd UK3
- FTAI Aircraft Leasing US (2025) LLC Delaware, USA3
- FTAI Aviation Holdco Ltd. Cayman Islands3
- FTAI Aviation Investors LLC Delaware, USA3
- FTAI Aviation Ireland Holdings DAC Ireland3
- FTAI Aviation Ireland Limited Ireland3
- FTAI Aviation LLC Delaware, USA3
- FTAI Aviation Ltd. Cayman Islands3
- FTAI Aviation Medley LLC Delaware, USA3
- FTAI Aviation Pacific Inc. California3
- FTAI Avion DAC Ireland3
- FTAI CHR JV Holdings LLC Delaware, USA3
- FTAI Engine Holdings LLC Delaware, USA3
- FTAI Finance JV L.P Delaware, USA3
- FTAI Finance JV Parent LLC Delaware, USA3
- FTAI Irish FinCo DAC Ireland3
- FTAI Italia DAC Ireland3
- FTAI Ocean LLC Marshall Islands3
- FTAI Offshore Holdco LLC Delaware, USA3
- FTAI Offshore Pte Ltd. Singapore3
- FTAI Pioneer MI LLC Marshall Islands3
- FTAI Pioneer Marshall LLC Marshall Islands3
- FTAI Pioneer Singapore Pte Ltd. Singapore3
- FTAI Pride Chartering LLC Marshall Islands3
- FTAI Pride LLC Marshall Islands3
- FTAI Pride Malaysia SDN BHD Malaysia3
- FTAIC Aviation Inc. Canada3
- Falcon MSN 177 LLC Delaware, USA3
- High Turbine Technologies LLC Delaware, USA3
- La Victoire 3 Holding SARL France3
- Prime Engine Accessories LLC Delaware, USA3
- Quick Turn Engine Center Europe S.r.l. Italy3
- Quick Turn Engine Services, LLC (d/b/a FTAI Aviation USA LLC) Delaware, USA3
- WWTAI AirOpCo 1 Bermuda Ltd. Bermuda3
- WWTAI AirOpCo 1 USA LLC Delaware, USA3
- WWTAI AirOpCo 1 USA Sub LLC Delaware, USA3
- WWTAI AirOpCo 2 Bermuda Ltd. Bermuda3
- WWTAI AirOpCo BPA Ireland Limited Ireland3
- WWTAI AirOpCo Malta Limited Malta3
- WWTAI Airopco II DAC Ireland3
- WWTAI Aviation LLC Delaware, USA3
- WWTAI Finance Ltd Bermuda3
- WWTAI Offshore Co 1 Ltd. Bermuda3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
Timeline
- Jul 29, 20268-K Results of operations34
- May 29, 20268-K Shareholder vote35
- Apr 30, 20268-K Entered a material agreement; New debt or obligation; Other events36
- Apr 29, 20268-K Results of operations37
- Mar 6, 20268-K Executive or director change; Regulation FD disclosure38
- Feb 25, 20268-K Results of operations39
- Feb 12, 20268-K Executive or director change40
- Jan 28, 20268-K Executive or director change41
- Oct 27, 20258-K Financial statements and exhibits42
- Sep 5, 20258-K Completed an acquisition or sale43
- Aug 25, 20258-K Shareholder vote44
- Jul 30, 20258-K Results of operations45
- May 14, 2015New chief executive Joseph P. Adams Jr. becomes CEO13
Calendar
Coming up
- Oct 29, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $1.10 a share, on Oct 27, 2025.46
When it reported results
- Jul 29, 2026Reported quarterly or annual results34
- Apr 29, 2026Reported quarterly or annual results37
- Feb 25, 2026Reported quarterly or annual results39
- Jul 30, 2025Reported quarterly or annual results45
- Apr 30, 2025Reported quarterly or annual results47
- Feb 26, 2025Reported quarterly or annual results48
- Oct 30, 2024Reported quarterly or annual results49
- Jul 24, 2024Reported quarterly or annual results50
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
308 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 73 major events, 118 insider forms, 39 large holders, 57 other. The latest 20:
- Sep 17, 20264 EDGAR
- Sep 17, 20264 EDGAR
- Sep 17, 20264 EDGAR
- Sep 17, 20264 EDGAR
- Sep 3, 2026SCHEDULE 13G EDGAR
- Sep 3, 2026SCHEDULE 13G/A EDGAR
- Sep 2, 20264 EDGAR
- Aug 12, 20264 EDGAR
- Aug 12, 2026SCHEDULE 13G/A EDGAR
- Aug 6, 2026SCHEDULE 13G/A EDGAR
- Aug 3, 20264 EDGAR
- Jul 31, 202610-Q EDGAR
- Jul 29, 20268-K EDGAR
- Jul 22, 2026SCHEDULE 13G EDGAR
- Jul 2, 20264 EDGAR
- Jul 2, 20264 EDGAR
- Jun 25, 202615-12G EDGAR
- Jun 15, 20264 EDGAR
- Jun 15, 20264 EDGAR
- Jun 15, 20264 EDGAR
The 308 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
17 open-market trades by officers, directors and large owners since October 2021: 12 buys and 5 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jul 31, 2026 | Moreno DavidPresident | Buy | 2,475 | $201.27 | $498.1K | Form 4 |
| May 27, 2026 | HANNAWAY JUDITH ADirector | Sale | 255 | $253.89 | $64.7K | Form 4 |
| May 4, 2026 | TUCHMAN MARTINDirector | Sale | 110,676 | $241.46 | $26.7M | Form 4 |
| May 1, 2026 | TUCHMAN MARTINDirector | Sale | 143,584 | $242.44 | $34.8M | Form 4 |
| Feb 27, 2026 | GOODWIN PAUL RDirector | Sale | 10,000 | $303.35 | $3.0M | Form 4 |
| Nov 14, 2025 | Nam EunChief Financial Officer | Buy | 652 | $153.46 | $100.1K | Form 4 |
| Nov 13, 2025 | Moreno DavidPresident | Buy | 6,637 | $153.76 | $1.0M | Form 4 |
| Nov 13, 2025 | Adams Joseph P. Jr.CEO and Chairman | Buy | 2,000 | $155.91 | $311.8K | Form 4 |
| May 5, 2025 | TUCHMAN MARTINDirector | Buy | 1,000 | $99.19 | $99.2K | Form 4 |
| May 2, 2025 | Kuperus StacyChief Operating Officer | Buy | 1,087 | $92.90 | $101.0K | Form 4 |
| May 2, 2025 | Moreno DavidPresident | Buy | 6,580 | $94.85 | $624.1K | Form 4 |
| May 2, 2025 | Adams Joseph P. Jr.CEO and Chairman | Buy | 3,000 | $94.54 | $283.6K | Form 4 |
| Feb 28, 2025 | TUCHMAN MARTINDirector | Buy | 2,200 | $128.79 | $283.3K | Form 4 |
| Nov 22, 2024 | GOODWIN PAUL RDirector | Sale | 20,000 | $174.36 | $3.5M | Form 4 |
| May 30, 2024 | Adams Joseph P. Jr.CEO and Chairman | Buy | 59,000 | $82.00 | $4.8M | Form 4 |
| Mar 15, 2023 | TUCHMAN MARTINDirector | Buy | 40,000 | $25.00 | $1.0M | Form 4 |
| Nov 9, 2022 | Adams Joseph P. Jr.CEO and Chairman | Buy | 25,000 | $18.00 | $450.0K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Sep 3, 202651
- VANGUARD GROUP INCSCHEDULE 13G/A, 4 filings Feb 9, 2023 to Sep 3, 202652
- Capital World InvestorsSCHEDULE 13G/A, 4 filings Aug 13, 2025 to Aug 12, 202653
- FMR LLCSCHEDULE 13G/A, 3 filings Feb 9, 2024 to Aug 6, 202654
- SHIKIAR ASSET MANAGEMENT INCSCHEDULE 13G, 7 filings Feb 5, 2025 to Jul 22, 202655
- Capital International InvestorsSCHEDULE 13G/A, 4 filings Nov 13, 2024 to May 14, 202656
- BlackRockSCHEDULE 13G, 6 filings Feb 6, 2024 to Apr 27, 202657
- WASHINGTON STATE INVESTMENT BOARDSCHEDULE 13G/A, 4 filings Jan 6, 2023 to Feb 14, 202558
- Morgan StanleySC 13G/A, 3 filings Feb 10, 2022 to Dec 8, 202359
- Bank of AmericaSC 13G/A, 2 filings Jan 31, 2022 to Feb 14, 202360
- Goldman SachsSC 13G, 1 filing Feb 11, 202261
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
Members of Congress who traded it
1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| May 5, 2026 | Brian BabinRepublican, House | Partial sale | $50,001 - $100,000 | +37.7% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How FTAI Aviation Ltd. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARFTAI Aviation Ltd.1
- CIK0001590364
- Employer ID (EIN)98-14207844
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
- Incorporated inCayman Islands4
- Fiscal year endsDecember 311
- Industry code (SIC)7350 Services-Miscellaneous Equipment Rental & Leasing1
- SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
- Business address405 West 13Th Street, 3Rd Floor, New York, NY 100141
- Phone(332) 239-76001
- Shares outstanding102,707,091 as of Jul 29, 202612
- Public float$11.7B as of Jun 30, 20254
- AuditorKPMG LLP, New York, New York PCAOB ID 185; it also attests to the company’s internal control over financial reporting4
- On EDGAR sinceOct 30, 20131
- Filings619 in all: 4 (186), 8-K (168), 10-Q (36), UPLOAD (21), 3 (20), SC 13G (17), 424B2 (16), SC 13G/A (16)1
All 41 form types
DEFA14A (15), CORRESP (14), SCHEDULE 13G/A (14), 10-K (11), DEF 14A (11), SCHEDULE 13G (10), S-1/A (7), 8-A12B (6), CERT (5), FWP (5), 425 (4), ARS (4), S-3ASR (4), 15-12G (3), 25-NSE (3), 8-K/A (3), 144 (2), 424B5 (2), 424B7 (2), 10-K/A (1), 10-Q/A (1), 25 (1), 3/A (1), 424B4 (1), 8-K12B (1), CERTNYS (1), DEFM14A (1), DRS (1), DRS/A (1), DRSLTR (1), EFFECT (1), S-1 (1), S-8 (1)
- Latest filingsAnnual report (10-K) Feb 27, 2026
Quarterly report (10-Q) Jul 31, 2026
Proxy statement (DEF 14A) Apr 15, 2026
Latest 8-K (8-K) Jul 29, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Ordinary shares, $0.01 par value per share | FTAI | The Nasdaq Global Select Market |
| 8.25% Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares | FTAIN | The Nasdaq Global Select Market |
| 9.50% Fixed-Rate Reset Series D Cumulative Perpetual Redeemable Preferred Shares | FTAIM | The Nasdaq Global Select Market |
From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks FTAI Aviation Ltd. names in Item 1A of its 10-K filed Feb 27, 2026: 51 risks under these headings, as written.4
- Risks Related to Our Business
- Uncertainty relating to macroeconomic conditions, including those that affect the commercial aviation industry, may reduce the demand for our assets, result in non-performance of contracts by our lessees or charterers, limit our ability to obtain additional capital to finance new investments, or have other unforeseen negative effects.
- Instability in geographies where we have assets or where we derive revenue could have a material adverse effect on our business, customers, lessees, operations and financial results.
- The aviation industry has experienced periods of oversupply during which lease rates and asset values have declined, particularly during economic downturns, and any future oversupply could materially adversely affect our results of operations and cash flows.
- The aviation industry is heavily regulated, and if we fail to comply with applicable requirements, our results of operations could suffer.
- The retirement or prolonged grounding of commercial aircraft could reduce our revenues and the value of any related inventory.
- Contractual defaults may adversely affect our business, prospects, financial condition, results of operations and cash flows by decreasing revenues and increasing storage, positioning, collection, recovery and lost equipment expenses.
- We acquire a high concentration of CFM-56-5B, CFM56-7B and V2500 engines and related parts and our business, prospects, financial condition, results of operations and cash flows could be adversely affected by changes in market demand or problems specific to that asset or sector.
- We operate in highly competitive markets.
- The success of our Aerospace Products segment is dependent upon our ability to manage our operational footprint.
- Certain liens may arise on our assets.
- The values of our assets may fluctuate due to various factors.
The other 40 risks
- We may not generate a sufficient amount of cash or generate sufficient free cash flow to fund our operations or repay our indebtedness.
- Our use of joint ventures or partnerships may present unforeseen obstacles or costs.
- Our Strategic Capital Initiative involves certain risks which could adversely affect our business, prospects, financial condition, results of operations and cash flows.
- We are subject to the risks and costs of obsolescence of our assets.
- The inability to obtain certain components from suppliers could harm our business.
- We could be negatively impacted by environmental, social, and governance (ESG) and sustainability-related matters.
- Our assets generally require routine maintenance, and we may be exposed to unforeseen maintenance costs.
- Our customers and lessees operate in highly regulated industries and changes in laws or regulations, including laws with respect to international trade, may adversely affect our ability to lease or sell our assets.
- We may not be able to renew or obtain new or favorable leases, which could adversely affect our business, prospects, financial condition, results of operations and cash flows.
- Litigation to enforce our contracts and recover our assets has inherent uncertainties that are increased by the location of our assets in jurisdictions that have less developed legal systems.
- Our international operations involve additional risks, which could adversely affect our business, prospects, financial condition, results of operations and cash flows.
- We may make acquisitions in emerging markets throughout the world, and investments in emerging markets are subject to greater risks than developed markets and could adversely affect our business, prospects, financial condition, results of operations and cash flows.
- We are actively evaluating potential acquisitions of assets and operating companies in other aviation sectors which could result in additional risks and uncertainties for our business and unexpected regulatory compliance costs.
- Implementing new or expanded platforms, products and services and keeping pace with technological or process developments in our industries may require significant capital and operational risk.
- The agreements governing our indebtedness place restrictions on us and our subsidiaries, reducing operational flexibility and creating default risks.
- Terrorist attacks or other hostilities could negatively impact our operations and our profitability and may expose us to liability and reputational damage.
- Projects in the aerospace products and services sector are exposed to a variety of unplanned interruptions which could cause our results of operations to suffer.
- Our leases typically require payments in U.S. dollars, but many of our lessees operate in other currencies; if foreign currencies devalue against the U.S. dollar, our lessees may be unable to meet their payment obligations to us in a timely manner.
- Our inability to obtain sufficient capital would constrain our ability to grow our portfolio and to increase our revenues.
- The effects of various environmental regulations may negatively affect the industries in which we operate which could have a material adverse effect on our financial condition, results of operations and cash flows.
- A cyberattack that bypasses our information technology (“IT”), security systems or the IT security systems of our third-party providers, causing an IT security breach, may lead to a disruption of our IT systems and the loss of business information which may hinder our ability to conduct our business effectively and may result in lost revenues and additional costs.
- We may not realize some or all of the targeted benefits of the Internalization.
- If we are deemed an “investment company” under the Investment Company Act, it could have a material adverse effect on our business, prospects, financial condition, results of operations and cash flows.
- If we are deemed an “investment adviser” under the Investment Advisers Act, it could have a material adverse effect on our business, prospects, financial condition, results of operations and cash flows.
- Because we are incorporated under the laws of the Cayman Islands, you may face difficulties in protecting your interests, and your ability to protect your rights through the U.S. federal courts may be limited.
- Risks Related to Taxation
- The Company has been and may be a passive foreign investment company (“PFIC”) and it could be a controlled foreign corporation (“CFC”) for U.S. federal income tax purposes, which may result in adverse tax considerations for U.S. shareholders.
- To the extent we recognize income treated as effectively connected with a trade or business in the United States, we would be subject to U.S. federal income taxation on a net income basis, which could adversely affect our business and result in decreased cash available for distribution to our shareholders.
- If there is not sufficient trading in our shares, or if 50% of our shares are held by certain 5% shareholders, we could lose our eligibility for an exemption from U.S. federal income taxation on rental income from our aircraft used in “international traffic” and could be subject to U.S. federal income taxation which would adversely affect our business and result in decreased cash available for distribution to our shareholders.
- We or our subsidiaries may become subject to increased and/or unanticipated tax liabilities that may have a material adverse effect on our results of operations.
- Risks Related to Our Shares
- The market price and trading volume of our ordinary and preferred shares may be volatile, which could result in rapid and substantial losses for our shareholders.
- Short sellers have and may in the future engage in activity intended to drive down the market price of our ordinary shares, which could in the future result in related governmental and regulatory scrutiny, among other effects.
- An increase in market interest rates may have an adverse effect on the market price of our shares.
- We are required by Section 404 of the Sarbanes-Oxley Act to evaluate the effectiveness of our internal controls, and the outcome of that effort may adversely affect our results of operations, financial condition and liquidity.
- Your percentage ownership in us may be diluted in the future.
- Sales or issuances of our ordinary shares could adversely affect the market price of our ordinary shares.
- The incurrence or issuance of debt, which ranks senior to our ordinary shares upon our liquidation, and future issuances of equity or equity-related securities, which would dilute the holdings of our existing ordinary shareholders and may be senior to our ordinary shares for the purposes of making distributions, periodically or upon liquidation, may negatively affect the market price of our ordinary shares.
- Our determination of how much leverage to use to finance our acquisitions may adversely affect our return on our assets and may reduce funds available for distribution.
- While we currently intend to pay regular quarterly dividends to our shareholders, we may change our dividend policy at any time.
- Anti-takeover provisions in our Articles could delay or prevent a change in control.
- If securities or industry analysts do not publish research or reports about our business, or if they downgrade their recommendations regarding our ordinary shares, our share price and trading volume could decline.
Legal proceedings
We are and may become involved in legal proceedings, including but not limited to regulatory investigations and inquiries, in the ordinary course of our business. Although we are unable to predict with certainty the eventual outcome of any litigation, regulatory investigation or inquiry, in the opinion of management, we do not expect our current and any threatened legal proceedings to have a material adverse effect on our business, financial position or results of operations. Given the inherent unpredictability of these types of proceedings, however, it is possible that future adverse outcomes could have a material adverse effect on our financial results.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14SEC EDGARJoseph P. Adams Jr., Chair
- 15SEC EDGARDavid Moreno, President
- 16
- 17SEC EDGAREun Nam, Chief financial officer
- 18
- 19
- 20
- 21
- 22
- 23
- 24SEC EDGAREun Nam, Chief Accounting Officer
- 25
- 26SEC EDGARShyam H. Gidumal, Board member
- 27SEC EDGARA. Andrew Levison, Board member
- 28SEC EDGARJudith A. Hannaway, Board member
- 29SEC EDGARKenneth J. Nicholson, Board member
- 30SEC EDGARMartin Tuchman, Board member
- 31SEC EDGARPaul R. Goodwin, Board member
- 32SEC EDGARRay M. Robinson, Board member
- 33SEC EDGARBohee Yoon, General counsel
- 34SEC EDGARResults of operations
- 35SEC EDGARShareholder vote
- 36
- 37SEC EDGARResults of operations
- 38
- 39SEC EDGARResults of operations
- 40SEC EDGARExecutive or director change
- 41SEC EDGARExecutive or director change
- 42SEC EDGARFinancial statements and exhibits
- 43SEC EDGARCompleted an acquisition or sale
- 44SEC EDGARShareholder vote
- 45SEC EDGARResults of operations
- 46NasdaqNasdaq calendar
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