Financial Overview
(in thousands, except per share data)
Selected Financial Results
Q1'26
Net Income Attributable to Shareholders
$
134,190
Basic Earnings per Ordinary Share
$
1.31
Diluted Earnings per Ordinary Share
$
1.29
Adjusted EBITDA (1)
$
325,577
(1) For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release.
First Quarter 2026 Dividends
On April 28, 2026, the Company's Board of Directors (the "Board") declared a cash dividend on its ordinary shares of $0.45 per share for the quarter ended March 31, 2026, payable on May 26, 2026 to the holders of record on May 13, 2026.
Additionally, on April 28, 2026, the Board declared cash dividends on its Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares ("Series C Preferred Shares") and Fixed-Rate Reset Series D Cumulative Perpetual Redeemable Preferred Shares ("Series D Preferred Shares") of $0.51563 and $0.59375 per share, respectively, for the quarter ended March 31, 2026, payable on June 15, 2026 to the holders of record on June 1, 2026.
Business Highlights
Generated Aerospace Products Revenue of $743.8 million and Adjusted EBITDA of $222.6 million in Q1 2026, an increase of 104% and 70%, respectively, compared to Q1 2025.(1)
Amended and extended existing revolving credit facility with the support of a 15 lender syndicate, increasing total commitments from $400 million to $2.025 billion and extending maturity to April 2031.
Upsized SCI I warehouse financing facility from $2.5 billion to $3.5 billion to support the remaining deployment of the vehicle.
Announced a strategic packaging and distribution joint venture with Jereh Group, a global leader in gas turbine mobile packaging, to support the planned 2027 production target of 100 Mod-1 CFM56 aeroderivative units.(2)
Increased quarterly dividend for the third consecutive quarter, raising it from $0.40 to $0.45 per share, supported by continued strong free cash flow generation.
"FTAI delivered another quarter of strong execution across all three of our platforms, led by continued momentum in our core Aerospace Products offering and an expanding, increasingly diverse customer base," said Joe Adams, Chairman and CEO. "End market demand remains robust, and our team executed well as we continue to scale the business. With a further strengthened balance sheet and significant capital available to deploy, we are well positioned to pursue attractive opportunities we see in the market to deliver sustained growth and long-term value creation for our shareholders in 2026 and beyond."
(1) For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release.
(2) This is a forward-looking statement. Please see Cautionary Note Regarding Forward-Looking Statements below.Additional Information
For additional information that management believes to be useful for investors, please refer to the presentation posted on the Investor Center section of the Company's website, https://www.ftaiaviation.com/, and the Company's Annual Report on Form 10-K and Quarterly Report on Form 10-Q, when available on the Company's website. Nothing on the Company's website is included or incorporated by reference herein.
Conference Call
In addition, management will host a conference call on Thursday, April 30, 2026 at 8:00 A.M. Eastern Time. The conference call may be accessed by registering via the following link https://register-conf.media-server.com/register/BI473c73de9b164133be498d6715eae345. Once registered, participants will receive a dial-in and unique pin to access the call.
A simultaneous webcast of the conference call will be available to the public on a listen-only basis at https://www.ftaiaviation.com/. Please allow extra time prior to the call to visit the site and download the necessary software required to listen to the internet broadcast.
A replay of the conference call will be available after 11:30 A.M. on Thursday, April 30, 2026 through 11:30 A.M. on Thursday, May 7, 2026 on https://ir.ftaiaviation.com/news-events/presentations/.
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.
About FTAI Aviation Ltd.
FTAI combines advanced turbine technology and asset ownership to power the world's most essential markets. Additional information is available at https://www.ftaiaviation.com/.
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, whether SCI I will be able to complete deployment of capital, FTAI Power remaining on track to deliver FTAI Mod-1 and meet planned production of 100 units on time or at all, and the ability to create sustained growth and long-term value creation for our shareholders in 2026 and beyond. 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) 734-9414[email protected]
Media:Tim Lynch / Aaron Palash / Kelly SullivanJoele Frank, Wilkinson Brimmer Katcher(212) 355-4449
Exhibit - Financial Statements
FTAI AVIATION LTD.CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)(Dollar amounts in thousands, except share and per share data)
Three Months Ended March 31,
2026
2025
Revenues
Aerospace products revenue
$
522,585
$
264,425
MRE Contract revenue
221,230
100,638
Lease income
39,892
68,440
Maintenance revenue
30,599
49,607
Asset sales revenue
10,184
18,939
Other revenue (1)
6,207
31
Total revenues
830,697
502,080
Expenses
Cost of sales
524,268
248,714
Operating expenses
64,987
32,438
General and administrative
2,413
3,116
Acquisition and transaction expenses
16,361
7,292
Depreciation and amortization
52,289
59,562
Total expenses
660,318
351,122
Other (expense) income
Interest expense
(61,407
)
(62,040
)
Equity in losses of unconsolidated entities (2)
(2,363
)
(7,614
)
Gain on sale to the 2025 Partnership
15,168
10,870
Other income
47,582
33,071
Total other expense
(1,020
)
(25,713
)
Income before income taxes
169,359
125,245
Provision for income taxes
31,460
