Press release
FTAI Aviation closes the Sale and Leaseback of 9 of 19 Aircraft with Avianca
NEW YORK, Dec. 27, 2021 (GLOBE NEWSWIRE) -- FTAI Aviation, a wholly owned subsidiary of Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI)
About this update from Ftai Aviation Ltd.
[{"type":"text","content":"NEW YORK, Dec. 27, 2021 (GLOBE NEWSWIRE) -- FTAI Aviation, a wholly owned subsidiary of Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) is pleased to announce the closing of the first 9 of 19 aircraft under a sale and leaseback transaction with Aerovías del Continente Americano S.A. Avianca (“Avianca”). The remaining aircraft are expected to close subject to customary closing requirements by the end of February 2022. “We are excited to partner with Avianca once again,” said Joe Adams, FTAI’s Chairman and Chief Executive Officer. “Our differentiated approach to aircraft leasing provides Avianca with a lower total cost of ownership.” “FTAI has become one of our most trusted partners,” said Francisco Raddatz, Vice President of Fleet at Avianca. “FTAI’s unique and flexible strategy is essential to our new business model.” About Fortress Transportation and Infrastructure Investors LLC Fortress Transportation and Infrastructure Investors LLC owns and acquires high quality infrastructure and equipment that is essential for the transportation of goods and people globally. FTAI targets assets that, on a combined basis, generate strong and stable cash flows with the potential for earnings growth and asset appreciation. FTAI is externally managed by an affiliate of Fortress Investment Group LLC, a leading, diversified global investment firm. 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, statements regarding leases and transactions which have not yet closed, and any expected financing in connection with such leases and transactions. 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 forwar...